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.
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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