Wilen Investment Management CORP. cut its holdings in Denny’s Corp (NASDAQ:DENN) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 73,500 shares of the restaurant operator’s stock after selling 1,000 shares during the period. Denny’s accounts for approximately 1.2% of Wilen Investment Management CORP.’s portfolio, making the stock its 24th biggest holding. Wilen Investment Management CORP.’s holdings in Denny’s were worth $1,488,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Mesirow Financial Investment Management Equity Management bought a new position in Denny’s during the second quarter valued at about $50,000. Advisory Services Network LLC increased its stake in Denny’s by 1,032.3% during the second quarter. Advisory Services Network LLC now owns 3,510 shares of the restaurant operator’s stock valued at $72,000 after acquiring an additional 3,200 shares during the period. Bank of Montreal Can increased its stake in Denny’s by 2,529.0% during the second quarter. Bank of Montreal Can now owns 5,074 shares of the restaurant operator’s stock valued at $104,000 after acquiring an additional 4,881 shares during the period. Quantamental Technologies LLC bought a new position in Denny’s during the second quarter valued at about $129,000. Finally, SG Americas Securities LLC bought a new position in Denny’s during the first quarter valued at about $144,000. Institutional investors and hedge funds own 91.26% of the company’s stock.
Several equities analysts recently issued reports on the company. Wedbush set a $25.00 price target on Denny’s and gave the company a “buy” rating in a research note on Friday, August 16th. BidaskClub upgraded Denny’s from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Zacks Investment Research lowered Denny’s from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Maxim Group set a $21.00 price target on Denny’s and gave the company a “hold” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $21.00.
NASDAQ DENN traded down $0.30 during trading on Friday, reaching $23.31. 150,323 shares of the company traded hands, compared to its average volume of 397,383. The stock’s 50 day moving average price is $22.63 and its two-hundred day moving average price is $19.98. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 34.27 and a beta of 0.17. Denny’s Corp has a 1-year low of $13.32 and a 1-year high of $23.88.
Denny’s (NASDAQ:DENN) last released its quarterly earnings data on Tuesday, July 30th. The restaurant operator reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $151.90 million for the quarter, compared to the consensus estimate of $148.85 million. Denny’s had a negative return on equity of 34.91% and a net margin of 11.60%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. Equities research analysts forecast that Denny’s Corp will post 0.65 earnings per share for the current fiscal year.
In other news, EVP F Mark Wolfinger sold 47,550 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $20.70, for a total value of $984,285.00. Following the transaction, the executive vice president now directly owns 805,980 shares of the company’s stock, valued at approximately $16,683,786. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Christopher D. Bode sold 50,488 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $23.53, for a total value of $1,187,982.64. Following the completion of the transaction, the chief operating officer now directly owns 56,196 shares in the company, valued at $1,322,291.88. The disclosure for this sale can be found here. Insiders have sold 158,027 shares of company stock worth $3,501,528 over the last ninety days. Company insiders own 6.10% of the company’s stock.
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 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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