Dine Brands Global (DIN) Trading Down 8.4% After Insider Selling
Dine Brands Global Inc (NYSE:DIN) dropped 8.4% on Monday after an insider sold shares in the company. The company traded as low as $83.94 and last traded at $83.99. Approximately 766,236 shares were traded during mid-day trading, an increase of 95% from the average daily volume of 392,566 shares. The stock had previously closed at $91.68.
Specifically, SVP Bryan R. Adel sold 10,488 shares of the firm’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $89.50, for a total value of $938,676.00. Following the completion of the transaction, the senior vice president now owns 26,895 shares of the company’s stock, valued at $2,407,102.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Larry Alan Kay sold 415 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $71.81, for a total transaction of $29,801.15. The disclosure for this sale can be found here. 2.75% of the stock is owned by corporate insiders.
A number of research firms recently weighed in on DIN. Raymond James downgraded shares of Dine Brands Global from a “strong-buy” rating to an “outperform” rating and raised their target price for the company from $92.50 to $108.00 in a research report on Monday. Zacks Investment Research raised shares of Dine Brands Global from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Wednesday, August 22nd. Finally, Maxim Group reaffirmed a “buy” rating and issued a $101.00 target price (up previously from $95.00) on shares of Dine Brands Global in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $99.33.
Dine Brands Global (NYSE:DIN) last released its earnings results on Wednesday, August 1st. The restaurant operator reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The business had revenue of $184.47 million during the quarter, compared to the consensus estimate of $186.92 million. Dine Brands Global had a negative net margin of 50.50% and a negative return on equity of 35.19%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.34 earnings per share. equities analysts predict that Dine Brands Global Inc will post 5.36 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Thursday, September 20th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, September 19th. Dine Brands Global’s dividend payout ratio (DPR) is currently 60.72%.
Hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new stake in Dine Brands Global in the second quarter valued at $127,000. Beacon Investment Advisory Services Inc. acquired a new stake in Dine Brands Global in the second quarter valued at $207,000. Xact Kapitalforvaltning AB acquired a new stake in Dine Brands Global in the second quarter valued at $217,000. Truvestments Capital LLC acquired a new stake in Dine Brands Global in the second quarter valued at $221,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Dine Brands Global in the second quarter valued at $262,000. Hedge funds and other institutional investors own 97.14% of the company’s stock.
Dine Brands Global Company Profile (NYSE:DIN)
Dine Brands Global, Inc, together with its subsidiaries, owns, franchises, operates, and rents full-service restaurants in the United States and internationally. It operates through four segments: Franchise Operations, Rental Operations, Company Restaurant Operations, and Financing Operations. The company owns and franchises two restaurant concepts, including Applebee's Neighborhood Grill & Bar (Applebee's) in the bar and grill segment of the casual dining category of the restaurant industry; and International House of Pancakes (IHOP) in the family dining category of the restaurant industry.
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