Millennium Management LLC grew its stake in shares of Denny’s Corp (NASDAQ:DENN) by 206.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,076,609 shares of the restaurant operator’s stock after buying an additional 725,669 shares during the period. Millennium Management LLC owned approximately 1.82% of Denny’s worth $24,509,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Denny’s by 102.6% in 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 last quarter. Eagle Asset Management Inc. acquired a new position in Denny’s during the second quarter valued at approximately $11,045,000. APG Asset Management N.V. increased its stake in Denny’s by 341.4% in the second 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. Nuveen Asset Management LLC bought a new stake in Denny’s in the second quarter valued at approximately $5,743,000. Finally, First Trust Advisors LP acquired a new stake in Denny’s in the second quarter worth $4,451,000. Institutional investors own 90.63% of the company’s stock.
In related news, VP Timothy E. Flemming sold 50,873 shares of Denny’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $22.82, for a total value of $1,160,921.86. Following the sale, 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 legal filing with the SEC, which can be accessed through this link. Also, VP Stephen C. Dunn sold 58,332 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $19.51, for a total value of $1,138,057.32. Following the completion of the sale, the vice president now owns 36,017 shares in the company, valued at approximately $702,691.67. The disclosure for this sale can be found here. Insiders sold a total of 172,001 shares of company stock worth $3,762,447 over the last ninety days. 6.10% of the stock is currently owned by insiders.
Shares of DENN stock opened at $20.05 on Tuesday. Denny’s Corp has a 52 week low of $15.53 and a 52 week high of $23.88. The company’s 50 day moving average price is $20.27 and its two-hundred day moving average price is $21.35. The company has a market capitalization of $1.15 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 3.21 and a beta of 0.05.
Denny’s (NASDAQ:DENN) last issued its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.02. Denny’s had a net margin of 18.80% and a negative return on equity of 34.15%. The company had revenue of $124.30 million during the quarter, compared to the consensus estimate of $126.62 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The firm’s revenue was down 21.3% compared to the same quarter last year. On average, sell-side analysts forecast that Denny’s Corp will post 0.68 earnings per share for the current year.
A number of brokerages have recently weighed in on DENN. ValuEngine cut shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Oppenheimer initiated coverage on shares of Denny’s in a research report on Thursday, September 19th. They issued an “outperform” rating and a $27.00 price objective for the company. Maxim Group raised their price objective on Denny’s from $21.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. MKM Partners began coverage on Denny’s in a report on Thursday, September 26th. They set a “neutral” rating and a $25.00 target price on the stock. Finally, BidaskClub raised Denny’s from a “strong sell” rating to a “sell” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $24.40.
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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