Russell Investments Group Ltd. raised its stake in shares of Denny’s Corp (NASDAQ:DENN) by 10.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,546 shares of the restaurant operator’s stock after purchasing an additional 5,164 shares during the period. Russell Investments Group Ltd. owned 0.09% of Denny’s worth $1,228,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in DENN. FMR LLC raised its position in shares of Denny’s by 102.6% in the first quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock valued at $43,874,000 after purchasing an additional 1,211,020 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Denny’s in the 2nd quarter valued at approximately $239,000. First Trust Advisors LP acquired a new stake in shares of Denny’s during the 2nd quarter worth approximately $4,451,000. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Denny’s during the second quarter valued at approximately $50,000. Finally, Keybank National Association OH bought a new stake in shares of Denny’s during the second quarter valued at approximately $572,000. Institutional investors own 90.63% of the company’s stock.
DENN has been the subject of several research reports. MKM Partners began coverage on Denny’s in a research report on Thursday, September 26th. They issued a “neutral” rating and a $25.00 target price for the company. ValuEngine lowered shares of Denny’s from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Denny’s from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Monday. TheStreet lowered shares of Denny’s from a “b-” rating to a “c+” rating in a research report on Wednesday, October 30th. Finally, Wedbush set a $25.00 price objective on Denny’s and gave the stock a “buy” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $24.40.
In other news, VP Stephen C. Dunn sold 58,332 shares of Denny’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $19.51, for a total transaction of $1,138,057.32. Following the transaction, the vice president now owns 36,017 shares in the company, valued at $702,691.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO F Mark Wolfinger sold 15,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $23.52, for a total transaction of $352,800.00. Following the completion of the sale, the chief financial officer now directly owns 785,980 shares in the company, valued at approximately $18,486,249.60. The disclosure for this sale can be found here. In the last three months, insiders sold 172,001 shares of company stock valued at $3,762,447. 6.10% of the stock is owned by insiders.
NASDAQ DENN opened at $20.05 on Tuesday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 3.21 and a beta of 0.05. Denny’s Corp has a 1-year low of $15.53 and a 1-year high of $23.88. The company has a 50 day moving average of $20.27 and a 200-day moving average of $21.35.
Denny’s (NASDAQ:DENN) last posted its earnings results on Tuesday, October 29th. The restaurant operator reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $124.30 million during the quarter, compared to analysts’ expectations of $126.62 million. Denny’s had a net margin of 18.80% and a negative return on equity of 34.15%. The business’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. Research analysts predict that Denny’s Corp will post 0.68 earnings per share for the current year.
About Denny’s
Denny’s Corporation, through its subsidiary, Denny’s, Inc, owns and operates full-service restaurant chains under the Denny’s brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.
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