Activist discloses stake in IHOP

NEW YORK Well-known activist investor Daniel S. Loeb and the fund he manages, Third Point LLC, based here, disclosed a 7-percent stake in IHOP Corp., the parent company to the mostly franchised, 1,302-unit family-dining chain. While Third Point did not disclose "any plans or proposals" for IHOP in the Feb. 13 filing, the hedge fund is known for taking activist positions with its investments.

Securities analyst Bryan Elliot at Raymond James & Associates Inc. said

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