Denny’s (NASDAQ:DENN) Reaches New 1-Year High at $23.65

Shares of Denny’s Corp (NASDAQ:DENN) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $23.65 and last traded at $23.64, with a volume of 21962 shares trading hands. The stock had previously closed at $23.27.

A number of research firms have issued reports on DENN. Wedbush set a $25.00 price target on shares of Denny’s and gave the company a “buy” rating in a report on Friday, August 16th. BidaskClub raised shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Maxim Group set a $21.00 price objective on shares of Denny’s and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research lowered shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Denny’s presently has an average rating of “Buy” and an average price target of $21.00.

The stock’s 50-day moving average price is $22.05 and its 200 day moving average price is $19.55. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 34.76 and a beta of 0.16.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings results on Tuesday, July 30th. The restaurant operator reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $151.90 million during the quarter, compared to analyst estimates of $148.85 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Denny’s Corp will post 0.65 EPS for the current fiscal year.

In related news, EVP F Mark Wolfinger sold 47,550 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $20.70, for a total value of $984,285.00. Following the completion of the transaction, the executive vice president now owns 805,980 shares of the company’s stock, valued at $16,683,786. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 122,550 shares of company stock valued at $2,516,235 in the last three months. Company insiders own 6.10% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Legal & General Group Plc grew its position in shares of Denny’s by 13.1% in the 4th quarter. Legal & General Group Plc now owns 11,033 shares of the restaurant operator’s stock valued at $179,000 after acquiring an additional 1,280 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Denny’s by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,612,629 shares of the restaurant operator’s stock worth $42,351,000 after buying an additional 59,554 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Denny’s by 574.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,709 shares of the restaurant operator’s stock valued at $233,000 after purchasing an additional 10,824 shares during the period. SG Americas Securities LLC bought a new stake in Denny’s in the 1st quarter valued at about $144,000. Finally, Menta Capital LLC boosted its holdings in Denny’s by 45.4% in the 1st quarter. Menta Capital LLC now owns 17,855 shares of the restaurant operator’s stock valued at $328,000 after purchasing an additional 5,579 shares during the period. 91.26% of the stock is owned by hedge funds and other institutional investors.

About Denny’s (NASDAQ:DENN)

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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