Assenagon Asset Management S.A. lifted its position in shares of Denny’s Corp (NASDAQ:DENN) by 250.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,326 shares of the restaurant operator’s stock after acquiring an additional 66,665 shares during the quarter. Assenagon Asset Management S.A. owned 0.16% of Denny’s worth $2,125,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Denny’s during the 2nd quarter worth approximately $50,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Denny’s during the 2nd quarter worth approximately $51,000. Advisory Services Network LLC boosted its stake in shares of Denny’s by 1,032.3% during the 2nd quarter. Advisory Services Network LLC now owns 3,510 shares of the restaurant operator’s stock worth $72,000 after acquiring an additional 3,200 shares in the last quarter. Bank of Montreal Can lifted its stake in Denny’s by 2,529.0% in the 2nd quarter. Bank of Montreal Can now owns 5,074 shares of the restaurant operator’s stock valued at $104,000 after buying an additional 4,881 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in Denny’s in the 2nd quarter valued at approximately $129,000. 90.15% of the stock is currently owned by institutional investors and hedge funds.
In other Denny’s news, VP Timothy E. Flemming sold 50,873 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $22.82, for a total transaction of $1,160,921.86. Following the transaction, the vice president now owns 100,828 shares of the company’s stock, valued at approximately $2,300,894.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO F Mark Wolfinger sold 10,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $23.57, for a total value of $235,700.00. Following the transaction, the chief financial officer now directly owns 785,980 shares in the company, valued at approximately $18,525,548.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 194,146 shares of company stock worth $4,521,833. Corporate insiders own 6.10% of the company’s stock.
A number of equities research analysts recently issued reports on the company. BidaskClub lowered Denny’s from a “hold” rating to a “sell” rating in a research note on Thursday. Maxim Group set a $21.00 target price on Denny’s and gave the company a “hold” rating in a research note on Wednesday, July 31st. ValuEngine lowered Denny’s from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. MKM Partners assumed coverage on Denny’s in a research note on Thursday, September 26th. They issued a “neutral” rating and a $25.00 target price on the stock. Finally, CL King assumed coverage on Denny’s in a research note on Tuesday, October 1st. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Denny’s has an average rating of “Hold” and a consensus target price of $23.17.
DENN stock opened at $21.88 on Friday. Denny’s Corp has a 1 year low of $14.02 and a 1 year high of $23.88. The stock’s 50 day moving average price is $22.76 and its 200 day moving average price is $20.98. The firm has a market cap of $1.30 billion, a P/E ratio of 32.18, a PEG ratio of 3.69 and a beta of 0.16.
Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, July 30th. The restaurant operator reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Denny’s had a negative return on equity of 34.91% and a net margin of 11.60%. The company had revenue of $151.90 million for the quarter, compared to analyst estimates of $148.85 million. During the same quarter in the prior year, the company posted $0.18 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, analysts anticipate that Denny’s Corp will post 0.66 EPS for the current 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 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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