Truvestments Capital LLC Invests $221,000 in Dine Brands Global Inc (NYSE:DIN) Stock
Truvestments Capital LLC acquired a new stake in shares of Dine Brands Global Inc (NYSE:DIN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,960 shares of the restaurant operator’s stock, valued at approximately $221,000.
A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Dine Brands Global by 5.9% during the 2nd quarter. BlackRock Inc. now owns 2,384,966 shares of the restaurant operator’s stock valued at $178,396,000 after purchasing an additional 133,181 shares in the last quarter. Wells Fargo & Company MN increased its stake in Dine Brands Global by 44.9% during the 1st quarter. Wells Fargo & Company MN now owns 848,985 shares of the restaurant operator’s stock valued at $55,677,000 after purchasing an additional 263,073 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Dine Brands Global during the 2nd quarter valued at about $46,074,000. Bank of New York Mellon Corp increased its stake in Dine Brands Global by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 460,808 shares of the restaurant operator’s stock valued at $34,469,000 after purchasing an additional 5,162 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Dine Brands Global by 156.2% during the 1st quarter. Millennium Management LLC now owns 275,019 shares of the restaurant operator’s stock valued at $18,036,000 after purchasing an additional 167,678 shares in the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.
Shares of DIN stock traded up $3.82 during trading hours on Friday, reaching $79.61. The company had a trading volume of 373,313 shares, compared to its average volume of 381,830. Dine Brands Global Inc has a one year low of $42.05 and a one year high of $95.00. The firm has a market capitalization of $1.44 billion, a PE ratio of 19.18 and a beta of 0.06. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of -6.10.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Thursday, December 20th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Wednesday, December 19th. Dine Brands Global’s payout ratio is 60.72%.
A number of analysts have recently commented on the stock. Maxim Group lifted their price target on shares of Dine Brands Global from $101.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, September 28th. Zacks Investment Research upgraded shares of Dine Brands Global from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research note on Wednesday, August 22nd. Finally, Raymond James lowered shares of Dine Brands Global from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $92.50 to $108.00 in a research note on Monday, September 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $104.00.
In related news, Director Larry Alan Kay sold 415 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $71.81, for a total value of $29,801.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Bryan R. Adel sold 10,488 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $89.50, for a total transaction of $938,676.00. Following the completion of the transaction, the senior vice president now directly owns 26,895 shares in the company, valued at approximately $2,407,102.50. The disclosure for this sale can be found here. Company insiders own 2.75% of the company’s stock.
Dine Brands Global Profile
Dine Brands Global, Inc owns and franchises casual and family dining restaurants. It operates through four segments: Franchise Operations, Rental operations, Company Restaurant Operations, and Financing Operations. The Franchise Operations segment comprises of royalties, fees, and other income for Applebee’s and IHOP franchised and area licensed restaurants.
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