Denny’s Sees Unusually High Options Volume (NASDAQ:DENN)


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Denny’s Co. (NASDAQ:DENN) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 1,543 call options on the stock. This represents an increase of approximately 1,242% compared to the average volume of 115 call options.

DENN has been the subject of several research analyst reports. Sidoti cut shares of Denny’s from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Thursday, January 21st. Wells Fargo & Company assumed coverage on shares of Denny’s in a report on Monday, December 14th. They set an “overweight” rating and a $16.00 price target for the company. Wedbush lifted their price objective on Denny’s from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, February 17th. MKM Partners upped their target price on shares of Denny’s from $16.00 to $18.00 in a research report on Thursday, April 1st. Finally, Zacks Investment Research lowered Denny’s from a “hold” rating to a “sell” rating in a research report on Tuesday, March 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $17.11.

In other news, CAO Jay C. Gilmore sold 3,300 shares of the company’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $19.81, for a total value of $65,373.00. Following the transaction, the chief accounting officer now directly owns 87,672 shares of the company’s stock, valued at $1,736,782.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John William Dillon sold 20,914 shares of the firm’s stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $17.82, for a total value of $372,687.48. Following the sale, the executive vice president now directly owns 70,639 shares of the company’s stock, valued at $1,258,786.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,774 shares of company stock worth $566,964. 6.10% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. Ellevest Inc. raised its stake in Denny’s by 1,715.3% in the fourth quarter. Ellevest Inc. now owns 3,086 shares of the restaurant operator’s stock valued at $45,000 after purchasing an additional 2,916 shares in the last quarter. LPL Financial LLC bought a new position in shares of Denny’s during the 3rd quarter valued at $117,000. Jefferies Group LLC bought a new position in shares of Denny’s during the fourth quarter valued at about $147,000. Lombard Odier Asset Management USA Corp purchased a new stake in Denny’s during the 3rd quarter valued at about $150,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Denny’s by 43.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,583 shares of the restaurant operator’s stock valued at $155,000 after purchasing an additional 3,230 shares during the period. Institutional investors own 80.01% of the company’s stock.

Shares of Denny’s stock opened at $17.93 on Thursday. The company’s 50 day moving average price is $18.15 and its two-hundred day moving average price is $14.07. Denny’s has a fifty-two week low of $7.86 and a fifty-two week high of $20.02. The firm has a market capitalization of $1.15 billion, a P/E ratio of 112.07, a P/E/G ratio of 3.90 and a beta of 1.74.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Monday, February 15th. The restaurant operator reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Denny’s had a negative return on equity of 6.12% and a net margin of 3.44%. The firm had revenue of $80.11 million for the quarter, compared to analysts’ expectations of $79.50 million. Research analysts expect that Denny’s will post -0.09 earnings per share for the current year.

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 30, 2020, it had 1,650 franchised, licensed, and company restaurants worldwide. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in 2002.

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