Denny’s Corp (DENN) SVP Sells $199,326.40 in Stock

Denny’s Corp (NASDAQ:DENN) SVP John William Dillon sold 10,360 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $19.24, for a total transaction of $199,326.40. Following the completion of the transaction, the senior vice president now directly owns 80,208 shares in the company, valued at $1,543,201.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Denny’s stock traded up $0.23 during trading hours on Wednesday, reaching $19.43. The company’s stock had a trading volume of 488,900 shares, compared to its average volume of 406,361. Denny’s Corp has a one year low of $13.32 and a one year high of $20.41. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 28.57 and a beta of 0.17.

Denny’s (NASDAQ:DENN) last announced its earnings results on Tuesday, April 30th. The restaurant operator reported $0.13 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The company had revenue of $151.41 million during the quarter, compared to the consensus estimate of $149.01 million. Denny’s had a net margin of 7.89% and a negative return on equity of 34.51%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 earnings per share. As a group, sell-side analysts forecast that Denny’s Corp will post 0.61 earnings per share for the current fiscal year.

A number of research firms have weighed in on DENN. Zacks Investment Research raised shares of Denny’s from a “sell” rating to a “hold” rating in a research note on Friday, February 22nd. BidaskClub raised shares of Denny’s from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Wedbush reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Denny’s in a research note on Monday, February 11th. Finally, Maxim Group reaffirmed a “buy” rating on shares of Denny’s in a research note on Wednesday, May 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $19.75.

Several hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of Denny’s by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 32,189 shares of the restaurant operator’s stock valued at $522,000 after purchasing an additional 1,253 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Denny’s by 13.1% in the fourth quarter. Legal & General Group Plc now owns 11,033 shares of the restaurant operator’s stock valued at $179,000 after purchasing an additional 1,280 shares during the last quarter. Swiss National Bank raised its holdings in shares of Denny’s by 1.8% in the first quarter. Swiss National Bank now owns 114,100 shares of the restaurant operator’s stock valued at $2,094,000 after purchasing an additional 2,000 shares during the last quarter. Cadence Capital Management LLC raised its holdings in shares of Denny’s by 1.8% in the first quarter. Cadence Capital Management LLC now owns 115,627 shares of the restaurant operator’s stock valued at $2,122,000 after purchasing an additional 2,036 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Denny’s by 6.9% in the first quarter. The Manufacturers Life Insurance Company now owns 39,839 shares of the restaurant operator’s stock valued at $731,000 after purchasing an additional 2,578 shares during the last quarter. Institutional investors own 93.17% of the company’s stock.

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About Denny’s

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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