Gabelli Funds LLC lowered its holdings in shares of Denny’s Corp (NASDAQ:DENN) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 220,000 shares of the restaurant operator’s stock after selling 5,000 shares during the quarter. Gabelli Funds LLC owned 0.37% of Denny’s worth $5,008,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC boosted its holdings in Denny’s by 102.6% during the 1st quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock valued at $43,874,000 after acquiring an additional 1,211,020 shares during the period. Bank of America Corp DE raised its position in Denny’s by 11.2% during the 2nd quarter. Bank of America Corp DE now owns 581,172 shares of the restaurant operator’s stock valued at $11,931,000 after purchasing an additional 58,670 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Denny’s during the 2nd quarter valued at $11,045,000. Charles Schwab Investment Management Inc. raised its position in Denny’s by 5.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 412,773 shares of the restaurant operator’s stock valued at $8,475,000 after purchasing an additional 20,494 shares in the last quarter. Finally, APG Asset Management N.V. raised its position in Denny’s by 341.4% during the 2nd quarter. APG Asset Management N.V. now owns 380,900 shares of the restaurant operator’s stock valued at $6,867,000 after purchasing an additional 294,600 shares in the last quarter. Institutional investors own 90.23% of the company’s stock.
A number of equities research analysts have weighed in on the company. Maxim Group lifted their target price on Denny’s from $21.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Oppenheimer assumed coverage on Denny’s in a research report on Thursday, September 19th. They set an “outperform” rating and a $27.00 target price for the company. Wedbush set a $25.00 target price on Denny’s and gave the company a “buy” rating in a research report on Friday, August 16th. Zacks Investment Research raised Denny’s from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Friday, November 1st. Finally, ValuEngine lowered Denny’s from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $24.60.
Denny’s (NASDAQ:DENN) last released its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.02. The firm had revenue of $124.30 million during the quarter, compared to analyst estimates of $126.62 million. Denny’s had a negative return on equity of 34.15% and a net margin of 18.80%. The business’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. On average, research analysts forecast that Denny’s Corp will post 0.68 earnings per share for the current fiscal year.
In other news, CFO F Mark Wolfinger sold 3,816 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $22.82, for a total value of $87,081.12. Following the completion of the transaction, the chief financial officer now directly owns 779,796 shares of the company’s stock, valued at approximately $17,794,944.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Christopher D. Bode sold 50,488 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $1,322,291.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 194,146 shares of company stock valued at $4,521,833. Corporate 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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