Vanguard Group Inc. Has $37.39 Million Holdings in Denny’s Corporation (DENN)
Vanguard Group Inc. cut its stake in shares of Denny’s Corporation (NASDAQ:DENN) by 12.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,176,439 shares of the restaurant operator’s stock after selling 461,211 shares during the period. Vanguard Group Inc. owned approximately 4.73% of Denny’s Corporation worth $37,388,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Menta Capital LLC purchased a new stake in Denny’s Corporation during the 2nd quarter valued at approximately $172,000. PNC Financial Services Group Inc. raised its stake in Denny’s Corporation by 68.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,957 shares of the restaurant operator’s stock valued at $116,000 after acquiring an additional 4,041 shares during the last quarter. NorthCoast Asset Management LLC purchased a new stake in Denny’s Corporation during the 2nd quarter valued at approximately $725,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in Denny’s Corporation by 38.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 119,531 shares of the restaurant operator’s stock valued at $1,407,000 after acquiring an additional 33,340 shares during the last quarter. Finally, Cadence Capital Management LLC raised its stake in Denny’s Corporation by 4.7% during the 2nd quarter. Cadence Capital Management LLC now owns 135,000 shares of the restaurant operator’s stock valued at $1,589,000 after acquiring an additional 6,002 shares during the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.
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In other Denny’s Corporation news, VP Stephen C. Dunn sold 5,111 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $11.89, for a total transaction of $60,769.79. Following the transaction, the vice president now owns 93,179 shares in the company, valued at approximately $1,107,898.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.
Denny’s Corporation (NASDAQ DENN) opened at $12.31 on Wednesday. The company has a debt-to-equity ratio of -2.95, a quick ratio of 0.36 and a current ratio of 0.40. Denny’s Corporation has a 52-week low of $10.87 and a 52-week high of $14.25. The stock has a market capitalization of $823.87, a P/E ratio of 22.14 and a beta of 0.57.
Denny’s Corporation (NASDAQ:DENN) last released its earnings results on Wednesday, November 1st. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. Denny’s Corporation had a negative return on equity of 52.30% and a net margin of 7.21%. The company had revenue of $132.38 million for the quarter, compared to analysts’ expectations of $133.58 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. sell-side analysts forecast that Denny’s Corporation will post 0.55 earnings per share for the current fiscal year.
Denny’s Corporation announced that its board has authorized a share repurchase program on Tuesday, October 31st that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the restaurant operator to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Several equities analysts have issued reports on the company. TheStreet upgraded Denny’s Corporation from a “c+” rating to a “b-” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded Denny’s Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Denny’s Corporation in a research report on Sunday, July 30th. Finally, BidaskClub cut Denny’s Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Denny’s Corporation has a consensus rating of “Hold” and a consensus target price of $12.67.
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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