Top 5 New Stocks Billionaire Ken Fisher Just Bought

Topping the list, Fisher Asset Management bought 458,262 shares of Dine Brands Global, Inc. (NYSE:DIN) during Q3, taking a 2.79% stake in the company as hedge funds increasingly warm up to the quick service restaurant company, which owns and operates IHOP and Applebee’s. Among the hedge funds tracked by Insider Monkey there has been a 66% jump in ownership of DIN between the middle of 2019 and the middle of 2020.

DIN shares have given back most of the gains from their Pfizer announcement bump and remain down by 31% in 2020. Dine Brands announced at the end of October that it would close 100 of breakfast chain IHOP’s underperforming locations over the next six months, primarily locations with expiring leases or which are located in areas where traffic characteristics have deteriorated. The company is confident that it will eventually be able to replace these locations with more vibrant, better performing ones.

If you are in the mood to invest in some smaller companies that Ken Fisher has a ton of conviction in, don’t miss our article about the 10 Best Small-Cap Stocks To Buy Now.

Disclosure: None.