Feb 25 Hedge fund Marcato Capital Management
raised its stake in DineEquity Inc, making it the
fourth-largest shareholder in the restaurant operator.
Marcato, run by Richard McGuire, one of the former partners
of activist investor William Ackman, had a stake of 9.4 percent
as of Feb. 20, compared with 5.5 percent as of Dec. 19.
Earlier this month, Marcato said it planned to nominate
candidates to the board of Lear Corp, after disclosing a
stake of 5.2 percent in the auto parts maker.
DineEquity, which owns the Applebee's and the IHOP
restaurant brands, is scheduled to report fourth-quarter results
on Wednesday before markets open. Its third-quarter earnings had
beat estimates with the help of gains on the sale of its
restaurants to franchisees.
Marcato's top holdings include NCR Corp, Corrections
Corp Of America, GenCorp Inc and Cincinnati Bell
Shares of Glendale, California-based DineEquity, which have
risen more than 41 percent in the last six months, were down 1
percent at $73.82 on the New York Stock Exchange on Monday.