Short Interest in Denny’s Co. (NASDAQ:DENN) Drops By 6.7%

Denny’s Co. (NASDAQ:DENN) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 2,230,000 shares, a decrease of 6.7% from the March 15th total of 2,390,000 shares. Based on an average daily volume of 488,600 shares, the short-interest ratio is presently 4.6 days. Currently, 4.5% of the company’s stock are short sold.

Insider Transactions at Denny’s

In other news, Director John C. Miller sold 35,359 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $9.25, for a total transaction of $327,070.75. Following the sale, the director now owns 740,626 shares in the company, valued at approximately $6,850,790.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Denny’s

Large investors have recently modified their holdings of the stock. First Eagle Investment Management LLC grew its holdings in shares of Denny’s by 43.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 815,485 shares of the restaurant operator’s stock worth $6,907,000 after purchasing an additional 247,470 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Denny’s during the 3rd quarter worth $495,000. North Star Investment Management Corp. grew its holdings in shares of Denny’s by 95.6% during the 4th quarter. North Star Investment Management Corp. now owns 431,700 shares of the restaurant operator’s stock worth $4,697,000 after purchasing an additional 211,000 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Denny’s by 17.4% during the 3rd quarter. Earnest Partners LLC now owns 1,545,902 shares of the restaurant operator’s stock worth $13,094,000 after purchasing an additional 228,709 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in Denny’s by 16.4% in the fourth quarter. Diversified Trust Co now owns 15,546 shares of the restaurant operator’s stock valued at $169,000 after buying an additional 2,186 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Denny’s Trading Down 0.2 %

DENN stock traded down $0.02 during trading hours on Wednesday, hitting $8.23. 53,701 shares of the stock were exchanged, compared to its average volume of 486,907. The firm has a market capitalization of $437.01 million, a P/E ratio of 23.57, a P/E/G ratio of 1.44 and a beta of 1.93. The company has a 50-day simple moving average of $9.08 and a two-hundred day simple moving average of $9.54. Denny’s has a 12 month low of $8.11 and a 12 month high of $12.53.

Denny’s (NASDAQ:DENN) last released its earnings results on Tuesday, February 13th. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). The company had revenue of $115.40 million for the quarter, compared to analyst estimates of $115.67 million. Denny’s had a negative return on equity of 70.78% and a net margin of 4.30%. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. On average, equities research analysts predict that Denny’s will post 0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. StockNews.com upgraded Denny’s from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Oppenheimer dropped their price target on Denny’s from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Truist Financial dropped their price target on Denny’s from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Finally, Wedbush lowered their price objective on Denny’s from $11.00 to $10.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.92.

Denny’s Company Profile

Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.