() saw a notable decline in short interest during April. On April 30, there were 1,440,000 short shares, which is a decrease of 11.7% compared to the total of 1,630,000 on April 15. The days-to-cover is currently 2.9 based on a trading volume average of 491,200 share. Short selling is currently 2.7% of company stock.
Denny's Stocks Up 0.8 %
The stock rose $0.08 to $10.66 during Friday's trading. The stock changed hands 302,137 times, as opposed to the average of 535.220. The stock's market cap is $597.43m, with a PEG of 1.93, a P/E ratio of 11.98 and a beta value of 1.68. The company's 50-day moving is $10.98, and its 200 day moving is $11.32. The restaurant operator reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The restaurant operator posted $0.13 per share for the quarter. This was below the consensus estimate ($0.01) of $0.14. The company had revenue of $117.47 millions for the quarter compared to the consensus of $114.47million. Denny's reported a net profit margin of 11.35 % and a return on equity negative of 69.18%. Denny's's quarterly revenue was up 13.9% from the same period last year. In the same quarter of last year, Denny's posted $0.11 per share. Analysts predict that Denny's earnings per share will average 0.61 for the current fiscal.
Analyst Upgrades and downgrades
DENN has been the subject of several brokerage reports. Wedbush raised their price target on Denny's to $13.50 from $12.50 in a research report on February 14th. Benchmark reiterated a 'buy' and set a $17.00 target price on Denny's shares in a research report on Monday, April 10. Citigroup lowered their price target on Denny's in a research report on Thursday, April 20, from $13.00 down to $12.00. In a research report published on Thursday 16th March, Denny's was the first company to be covered. The company was given a "hold" rating. Four research analysts have given the stock a hold and two have given it a buy. According to data from MarketBeat.com the company's consensus rating is 'Hold' with a consensus target price of $13.50.
Gail Sharps Myers, the EVP of the company, sold 7,450 shares in a deal on Tuesday, 7th March. The stock was purchased at an average of $11.52 for a transaction totaling $85,824.00. After the sale was completed, the executive vice-president now owns 24,868 company shares valued at $286 479.36. Insiders control 5.80% of a company's shares.
Hedge Funds weigh in on Denny's
Recently, institutional investors and hedge fund managers have bought and sold the stock. Allspring Global Investments Holdings LLC increased its holdings in Denny's during the first quarter by 2.4%. Allspring Global Investments Holdings LLC owns 7,651,380 of the restaurant operator’s stock, worth $85,389,000. This is after purchasing an additional 1804,05 shares in the last quarter. Vanguard Group Inc. increased its holdings in Denny's during the first quarter by 0.8%. Vanguard Group Inc. owns 3,186.493 shares in the restaurant operator, valued at $45,599,000. This is after adding 26,750 additional shares to its stock during the previous quarter. Bank of America Corp DE increased its holdings in Denny's during the first quarter by 26.2%. Bank of America Corp DE owns 2,734,769 of the restaurant operator’s stock, worth $30,520,000, after purchasing an additional 567.822 shares in the last quarter. Invesco Ltd. increased its position in Denny's during the first quarter by 1.4%. Invesco Ltd. owns 2,192.002 shares worth $31,368,000 of the restaurant operator’s stock after purchasing an additional 30,627 during the last quarterly. Millennium Management LLC increased its holdings in Denny's during the fourth quarter by 57.0%. Millennium Management LLC owns 1,407 016 shares of the restaurant operators stock, valued at $12,959,000, after purchasing an additional 510 696 shares in the last quarter. Institutional investors currently own 90.65% the stock.
Denny's Corp. operates restaurants, franchised and licensed. It operates under the Denny's segment and Keke's segment. The Denny's segment includes licensed and franchised Denny's Restaurants. Keke's refers to other franchise and company restaurants. Harold Butler and Richard Jezak founded the company in 1953. Its headquarters is in Spartanburg.
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