MSD Capital Trims Its Stake in DineEquity, Inc (DIN)

Glenn Fuhrman and John Phelan have reduced their position in DineEquity, Inc (NYSE:DIN). A recent 13G filing shows that MSD Capital, L.P., sold 300,000 shares of the company bringing the ownership down to 2.1 million shares. The new stake represents a nearly 10.8% ownership of Dineequity, Inc, significantly down from 33.6% held at the end of last year.

DineEquity Inc (NYSE:DIN)

Mason Hawkins of Southeastern Asset Management is also a significant holder of DineEquity, Inc (NYSE:DIN), which owns 1.3 million shares of the company. Other remarkable stakeholders of the company are Frank Brosens’ Taconic Capital, which holds 365,000 shares worth $30.5 million, and Christopher Hansen’s Valiant Capital, which owns 286,400 shares worth $23.9 million.

Based in Glendale, California, DineEquity, through its subsidiaries and franchises operates restaurants under the Applebee’s Neighborhood Grill & Bar and International House of Pancakes (IHOP) brands. The company has a market cap of $1.6 billion and a beta of 3.17.

For the fourth quarter of 2013, DineEquity, Inc (NYSE:DIN) recorded EPS of $0.94, which compares to $0.83 for the same period in 2012. For full 2013, it reported earnings of $4.24 per share, compared to $4.28 in 2012. For full 2014, the company expects net income of around $1.5 million. Late last month, DineEquity declared a first quarter cash dividend of $0.75 per share of common stock, payable March 28, 2014.

In 1998, MSD Capital was founded strictly to manage Michael Dell’s funds. The hedge fund engages in a broad range of investments ranging from publicly traded securities to privately traded companies, and even dabbles in real estate. A key differentiating aspect of the fund is that it maintains a permanent capital base. This allows the firm to participate in unique transactions with greater flexibility. The hedge fund is run by both Glenn Fuhrman and John Phelan and has a portfolio value of $585.3 million.

MSD Capital is also bullish on Asbury Automotive Group Inc (NYSE:ABG), with a stake of 2.6 million shares worth $138.6 million. It also holds approximately 765,700 shares worth $104.1 million of PVH Corporation (NYSE:PVH). Another significant holding of MSD Capital is Delphi Automotive Plc (NYSE:DLPH). It owns 1.3 million shares in the company, which is equivalent to $79.0 million.

Disclosure:none

Recommended Reading:

Mark Stupfel’s Cortex Capital Management Is Bullish On These Stocks

Billionaire John Paulson and Jacob Gottlieb Boost Their Stakes in Enzymotec Ltd (ENZY)

Elliott Management Wagers on Boyd Gaming Corp. (BYD)

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!