Denny’s Corp (NASDAQ:DENN) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 2,207,100 shares, an increase of 8.0% from the June 30th total of 2,043,600 shares. Currently, 3.7% of the shares of the company are short sold. Based on an average daily volume of 449,500 shares, the days-to-cover ratio is currently 4.9 days.
DENN stock traded down $0.20 during trading on Wednesday, reaching $22.40. 546,300 shares of the company were exchanged, compared to its average volume of 426,035. The stock has a market cap of $1.34 billion, a P/E ratio of 32.94 and a beta of 0.16. Denny’s has a 52-week low of $13.32 and a 52-week high of $23.55. The firm’s 50 day moving average is $21.65.
Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, July 30th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Denny’s had a net margin of 11.60% and a negative return on equity of 34.91%. The company had revenue of $151.90 million for the quarter, compared to the consensus estimate of $148.85 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Denny’s will post 0.66 earnings per share for the current year.
In other Denny’s news, EVP F Mark Wolfinger sold 15,000 shares of Denny’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $19.39, for a total value of $290,850.00. Following the transaction, the executive vice president now directly owns 783,480 shares in the company, valued at $15,191,677.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 122,550 shares of company stock worth $2,516,235. 6.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Denny’s in the second quarter valued at about $50,000. NumerixS Investment Technologies Inc acquired a new position in shares of Denny’s in the second quarter valued at approximately $51,000. Advisory Services Network LLC raised its position in shares of Denny’s by 1,032.3% in the second quarter. Advisory Services Network LLC now owns 3,510 shares of the restaurant operator’s stock valued at $72,000 after buying an additional 3,200 shares during the last quarter. Bank of Montreal Can raised its position in shares of Denny’s by 2,529.0% in the second quarter. Bank of Montreal Can now owns 5,074 shares of the restaurant operator’s stock valued at $104,000 after buying an additional 4,881 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in shares of Denny’s in the second quarter valued at approximately $129,000. 95.02% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on DENN. BidaskClub raised shares of Denny’s from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Maxim Group set a $21.00 target price on shares of Denny’s and gave the company a “hold” rating in a report on Wednesday, July 31st. Zacks Investment Research raised shares of Denny’s from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Friday, May 3rd. Finally, Wedbush lifted their target price on shares of Denny’s from $23.00 to $24.50 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Denny’s currently has an average rating of “Buy” and a consensus target price of $20.88.
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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