Insider Selling: Denny’s Corporation (DENN) EVP Sells $22,266.00 in Stock
Denny’s Corporation (NASDAQ:DENN) EVP F Mark Wolfinger sold 1,800 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $12.37, for a total transaction of $22,266.00. Following the completion of the sale, the executive vice president now owns 674,497 shares in the company, valued at $8,343,527.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Denny’s Corporation (DENN) opened at 12.04 on Monday. The stock has a market capitalization of $808.79 million, a price-to-earnings ratio of 23.61 and a beta of 0.61. Denny’s Corporation has a 12 month low of $10.02 and a 12 month high of $14.25. The company has a 50 day moving average of $11.80 and a 200 day moving average of $12.07.
Denny’s Corporation (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, August 1st. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. The business had revenue of $133.40 million during the quarter, compared to analyst estimates of $131.62 million. Denny’s Corporation had a net margin of 7.34% and a negative return on equity of 60.77%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share. On average, equities analysts predict that Denny’s Corporation will post $0.56 EPS for the current year.
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A number of analysts have recently weighed in on DENN shares. Wedbush restated a “buy” rating on shares of Denny’s Corporation in a report on Tuesday, June 6th. Nomura restated a “hold” rating and issued a $12.00 price target on shares of Denny’s Corporation in a report on Wednesday, May 3rd. Instinet restated a “neutral” rating and issued a $12.00 price target (up from $11.00) on shares of Denny’s Corporation in a report on Wednesday, May 3rd. Zacks Investment Research cut shares of Denny’s Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, BidaskClub cut shares of Denny’s Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Denny’s Corporation currently has a consensus rating of “Hold” and an average target price of $12.67.
A number of institutional investors have recently made changes to their positions in DENN. Bank of America Corp DE increased its position in shares of Denny’s Corporation by 5.1% in the first quarter. Bank of America Corp DE now owns 509,049 shares of the restaurant operator’s stock worth $6,297,000 after buying an additional 24,487 shares during the period. Citadel Advisors LLC acquired a new position in shares of Denny’s Corporation during the first quarter worth about $162,000. TFS Capital LLC acquired a new position in shares of Denny’s Corporation during the first quarter worth about $489,000. Teza Capital Management LLC acquired a new position in shares of Denny’s Corporation during the first quarter worth about $250,000. Finally, Paloma Partners Management Co acquired a new position in shares of Denny’s Corporation during the first quarter worth about $283,000. 92.55% of the stock is owned by hedge funds and other institutional investors.
About Denny’s Corporation
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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