Mackay Shields LLC Purchases 7,100 Shares of Denny’s Corp (NASDAQ:DENN)

Mackay Shields LLC grew its position in shares of Denny’s Corp (NASDAQ:DENN) by 23.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,500 shares of the restaurant operator’s stock after purchasing an additional 7,100 shares during the period. Mackay Shields LLC owned about 0.06% of Denny’s worth $854,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mesirow Financial Investment Management Equity Management bought a new stake in Denny’s during the second quarter worth about $50,000. NumerixS Investment Technologies Inc bought a new stake in Denny’s during the second quarter worth about $51,000. Advisory Services Network LLC lifted 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 worth $72,000 after purchasing an additional 3,200 shares during the last quarter. First Quadrant L P CA bought a new stake in Denny’s during the third quarter worth about $82,000. Finally, Bank of Montreal Can lifted 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 worth $104,000 after purchasing an additional 4,881 shares during the last quarter. 91.03% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently commented on DENN shares. BidaskClub downgraded Denny’s from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 5th. ValuEngine downgraded Denny’s from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. MKM Partners started coverage on Denny’s in a report on Thursday, September 26th. They issued a “neutral” rating and a $25.00 price objective on the stock. Zacks Investment Research downgraded Denny’s from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, CL King started coverage on Denny’s in a report 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 given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $24.60.

In related news, CFO F Mark Wolfinger sold 10,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $18,525,548.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Timothy E. Flemming sold 50,873 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $22.82, for a total value of $1,160,921.86. Following the completion of the transaction, the vice president now directly owns 100,828 shares in the company, valued at $2,300,894.96. The disclosure for this sale can be found here. Insiders sold a total of 194,146 shares of company stock worth $4,521,833 over the last ninety days. 6.10% of the stock is currently owned by insiders.

DENN opened at $19.42 on Friday. The company has a market cap of $1.14 billion, a P/E ratio of 28.56, a P/E/G ratio of 3.16 and a beta of 0.09. Denny’s Corp has a 12 month low of $15.53 and a 12 month high of $23.88. The business’s 50-day moving average price is $21.33 and its 200-day moving average price is $21.33.

Denny’s (NASDAQ:DENN) last released its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $124.30 million for the quarter, compared to analysts’ expectations of $126.62 million. Denny’s had a negative return on equity of 34.15% and a net margin of 18.80%. The firm’s quarterly revenue was down 21.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS. Analysts expect that Denny’s Corp will post 0.68 earnings per share for the current year.

Denny’s 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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Institutional Ownership by Quarter for Denny`s (NASDAQ:DENN)

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