Denny's Co. (NASDAQ:DENN) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 3,390,000 shares, an increase of 32.9% from the September 15th total of 2,550,000 shares. Based on an average trading volume of 1,550,000 shares, the short-interest ratio is presently 2.2 days.
Several equities analysts have commented on the stock. Stephens cut shares of Denny's from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $12.00 to $10.00 in a research note on Monday, July 13th. Zacks Investment Research raised shares of Denny's from a "sell" rating to a "hold" rating in a research note on Monday, October 5th. TheStreet cut shares of Denny's from a "c" rating to a "d+" rating in a research note on Thursday, August 6th. Wedbush reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Denny's in a research note on Friday, August 28th. Finally, BidaskClub raised shares of Denny's from a "sell" rating to a "hold" rating in a research note on Friday, September 25th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Denny's currently has an average rating of "Buy" and a consensus target price of $13.79.
In other Denny's news, Director Brenda J. Lauderback sold 8,488 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $11.60, for a total transaction of $98,460.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John William Dillon sold 8,900 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $11.60, for a total transaction of $103,240.00. Following the transaction, the executive vice president now directly owns 85,542 shares in the company, valued at approximately $992,287.20. The disclosure for this sale can be found here. 6.10% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in DENN. BDO Wealth Advisors LLC acquired a new position in shares of Denny's in the first quarter worth about $27,000. Tower Research Capital LLC TRC acquired a new position in shares of Denny's in the first quarter worth about $38,000. Bank of Montreal Can boosted its holdings in shares of Denny's by 3,978.0% in the second quarter. Bank of Montreal Can now owns 4,445 shares of the restaurant operator's stock worth $38,000 after buying an additional 4,336 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Denny's in the second quarter worth about $52,000. Finally, Paloma Partners Management Co acquired a new position in shares of Denny's in the first quarter worth about $98,000. Institutional investors own 70.31% of the company's stock.
Shares of DENN opened at $10.02 on Friday. The firm's 50 day moving average is $10.78 and its 200-day moving average is $10.09. The stock has a market capitalization of $638.36 million, a P/E ratio of 11.65 and a beta of 1.48. Denny's has a 12-month low of $4.50 and a 12-month high of $22.21.
Denny's (NASDAQ:DENN) last announced its earnings results on Tuesday, July 28th. The restaurant operator reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.05). Denny's had a negative return on equity of 12.66% and a net margin of 14.33%. The firm had revenue of $40.16 million during the quarter, compared to analyst estimates of $43.70 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. The business's quarterly revenue was down 73.6% compared to the same quarter last year. On average, equities research analysts forecast that Denny's will post -0.02 earnings per share for the current fiscal year.
Denny's Company Profile
Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of March 25, 2020, it had 1,695 franchised, licensed, and company restaurants worldwide. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in 2002.
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