Several other equities research analysts also recently weighed in on the company. Wedbush reissued a “buy” rating and set a $21.00 price objective on shares of Denny’s in a report on Monday. Zacks Investment Research raised Denny’s from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Friday, May 3rd. Finally, Maxim Group reissued a “buy” rating on shares of Denny’s in a report on Wednesday, May 1st. Five research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $20.00.
NASDAQ DENN opened at $19.44 on Wednesday. Denny’s has a twelve month low of $13.32 and a twelve month high of $20.41. The firm has a market cap of $1.17 billion, a P/E ratio of 28.59 and a beta of 0.17.
In other Denny’s news, VP Stephen C. Dunn sold 12,000 shares of Denny’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $17.68, for a total transaction of $212,160.00. Following the transaction, the vice president now directly owns 99,199 shares of the company’s stock, valued at approximately $1,753,838.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert P. Verostek sold 5,474 shares of Denny’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $18.13, for a total value of $99,243.62. Following the transaction, the insider now directly owns 8,773 shares in the company, valued at $159,054.49. The disclosure for this sale can be found here. Insiders have sold a total of 58,484 shares of company stock worth $1,095,267 over the last ninety days. Company insiders own 6.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in DENN. Morgan Stanley lifted its holdings in Denny’s by 9.9% during the 3rd quarter. Morgan Stanley now owns 155,400 shares of the restaurant operator’s stock worth $2,287,000 after buying an additional 13,987 shares during the period. Vanguard Group Inc. lifted its holdings in Denny’s by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,006,666 shares of the restaurant operator’s stock worth $44,259,000 after buying an additional 47,047 shares during the period. Vanguard Group Inc lifted its holdings in Denny’s by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 3,006,666 shares of the restaurant operator’s stock worth $44,259,000 after buying an additional 47,047 shares during the period. Assenagon Asset Management S.A. acquired a new position in Denny’s during the 4th quarter worth about $2,296,000. Finally, Rhumbline Advisers lifted its holdings in Denny’s by 45.0% during the 4th quarter. Rhumbline Advisers now owns 87,920 shares of the restaurant operator’s stock worth $1,425,000 after buying an additional 27,290 shares during the period. 94.44% of the stock is currently owned by hedge funds and other institutional investors.
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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