Gabelli Funds LLC trimmed its holdings in shares of Denny’s Corporation (NASDAQ:DENN) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 264,000 shares of the restaurant operator’s stock after selling 4,300 shares during the period. Gabelli Funds LLC owned approximately 0.39% of Denny’s Corporation worth $3,287,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in Denny’s Corporation by 68.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,957 shares of the restaurant operator’s stock valued at $116,000 after acquiring an additional 4,041 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Denny’s Corporation by 939.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,376 shares of the restaurant operator’s stock valued at $134,000 after acquiring an additional 10,282 shares during the period. HighTower Advisors LLC lifted its stake in Denny’s Corporation by 5.8% during the 1st quarter. HighTower Advisors LLC now owns 12,116 shares of the restaurant operator’s stock valued at $150,000 after acquiring an additional 666 shares during the period. KCG Holdings Inc. purchased a new position in shares of Denny’s Corporation during the 1st quarter valued at approximately $171,000. Finally, Menta Capital LLC purchased a new position in shares of Denny’s Corporation during the 2nd quarter valued at approximately $172,000. Institutional investors and hedge funds own 94.77% of the company’s stock.
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Denny’s Corporation (NASDAQ DENN) opened at $12.35 on Tuesday. The company has a debt-to-equity ratio of -2.95, a quick ratio of 0.36 and a current ratio of 0.40. The firm has a market cap of $802.98, a P/E ratio of 21.58 and a beta of 0.57. Denny’s Corporation has a 1-year low of $10.87 and a 1-year high of $14.25.
Denny’s Corporation (NASDAQ:DENN) last posted its earnings results on Wednesday, November 1st. The restaurant operator reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $132.38 million during the quarter, compared to analyst estimates of $133.58 million. Denny’s Corporation had a net margin of 7.21% and a negative return on equity of 52.30%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. sell-side analysts anticipate that Denny’s Corporation will post 0.55 earnings per share for the current year.
Denny’s Corporation announced that its Board of Directors has approved a stock repurchase program on Tuesday, October 31st that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the restaurant operator to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In related news, VP Stephen C. Dunn sold 5,111 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $11.89, for a total value of $60,769.79. Following the completion of the sale, the vice president now owns 93,179 shares of the company’s stock, valued at approximately $1,107,898.31. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.20% of the stock is currently owned by insiders.
Several research firms have recently weighed in on DENN. TheStreet raised shares of Denny’s Corporation from a “c+” rating to a “b-” rating in a report on Monday, October 16th. Zacks Investment Research raised shares of Denny’s Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Wedbush reaffirmed an “outperform” rating on shares of Denny’s Corporation in a report on Tuesday, August 8th. Finally, BidaskClub lowered shares of Denny’s Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $12.67.
Denny’s Corporation Profile
Denny’s Corporation (Denny’s) operates a franchised full-service restaurant chain. The Company, through its subsidiary, Denny’s, Inc, owns and operates the Denny’s brand. As of December 28, 2016, the Denny’s brand consisted of 1,733 franchised, licensed and Company-operated restaurants around the world, including 1,610 restaurants in the United States and 123 international locations.
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