Stock Traders Purchase Large Volume of DineEquity Put Options (DIN)

DineEquity Inc (NYSE:DIN) was the target of unusually large options trading activity on Monday. Traders acquired 4,786 put options on the stock. This is an increase of approximately 3,294% compared to the typical volume of 141 put options.

Shares of DineEquity (NYSE:DIN) traded up $0.44 during midday trading on Wednesday, reaching $53.98. 279,379 shares of the company’s stock were exchanged, compared to its average volume of 249,272. DineEquity has a 52 week low of $36.71 and a 52 week high of $66.82. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of -6.40. The firm has a market cap of $963.09, a P/E ratio of -2.47 and a beta of 0.51.

A number of hedge funds and other institutional investors have recently modified their holdings of DIN. Cubist Systematic Strategies LLC acquired a new stake in DineEquity in the 3rd quarter valued at about $189,000. Crossmark Global Holdings Inc. acquired a new stake in DineEquity in the 3rd quarter valued at about $228,000. UBS Asset Management Americas Inc. acquired a new stake in DineEquity in the 4th quarter valued at about $228,000. Wedbush Securities Inc. acquired a new stake in DineEquity in the 4th quarter valued at about $280,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in DineEquity by 69.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 6,770 shares of the restaurant operator’s stock valued at $291,000 after acquiring an additional 2,780 shares during the last quarter. 92.89% of the stock is owned by institutional investors.

Several equities research analysts recently weighed in on the stock. ValuEngine downgraded shares of DineEquity from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of DineEquity from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Wednesday, January 31st. TheStreet downgraded shares of DineEquity from a “c” rating to a “d+” rating in a report on Friday, November 10th. Finally, Maxim Group upped their price target on shares of DineEquity from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, November 9th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $59.80.

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About DineEquity

DineEquity, Inc, through its subsidiaries, owns and franchises the Applebee’s Neighborhood Grill & Bar (Applebee’s) concept in the bar and grill segment within the casual dining category of the restaurant industry, and owns, franchises and operates the International House of Pancakes (IHOP) concept in the family dining category of the restaurant industry.

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