Denny’s Corporation (NASDAQ:DENN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Denny’s Corporation (NASDAQ:DENN) have been given an average recommendation of “Hold” by the eight ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $5.9643.

Several analysts have recently weighed in on the stock. Benchmark downgraded shares of Denny’s from a “buy” rating to a “hold” rating in a report on Wednesday, November 5th. Truist Financial restated a “hold” rating and issued a $6.00 price objective on shares of Denny’s in a research report on Tuesday, November 4th. Piper Sandler set a $4.00 target price on Denny’s and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Denny’s in a research note on Wednesday, October 8th. Finally, Mizuho upgraded Denny’s to a “hold” rating in a research note on Tuesday, October 28th.

Denny’s Trading Up 0.3%

NASDAQ:DENN opened at $6.15 on Thursday. Denny’s has a 12-month low of $2.85 and a 12-month high of $7.66. The stock’s 50 day simple moving average is $5.27 and its 200-day simple moving average is $4.55. The firm has a market cap of $316.72 million, a P/E ratio of 19.84 and a beta of 1.60.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The firm had revenue of $113.24 million during the quarter, compared to analysts’ expectations of $116.91 million. Denny’s had a net margin of 3.53% and a negative return on equity of 59.51%. The business’s quarterly revenue was up 202.6% on a year-over-year basis. During the same quarter last year, the business earned $0.14 earnings per share. Research analysts forecast that Denny’s will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jumana Capital Investments Llc bought 250,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $4.08 per share, for a total transaction of $1,020,000.00. Following the transaction, the insider owned 4,524,905 shares of the company’s stock, valued at approximately $18,461,612.40. This trade represents a 5.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired a total of 433,307 shares of company stock valued at $1,945,837 over the last three months. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Denny’s

Several hedge funds and other institutional investors have recently made changes to their positions in DENN. Boston Partners increased its holdings in Denny’s by 56.7% in the second quarter. Boston Partners now owns 3,951,187 shares of the restaurant operator’s stock valued at $16,196,000 after buying an additional 1,430,102 shares in the last quarter. JCP Investment Management LLC acquired a new stake in shares of Denny’s in the 3rd quarter worth approximately $4,338,000. Envestnet Asset Management Inc. increased its stake in Denny’s by 63.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 828,571 shares of the restaurant operator’s stock valued at $3,041,000 after purchasing an additional 321,877 shares in the last quarter. Monimus Capital Management LP purchased a new position in Denny’s in the 2nd quarter valued at approximately $1,307,000. Finally, Royce & Associates LP raised its holdings in Denny’s by 49.9% during the third quarter. Royce & Associates LP now owns 816,042 shares of the restaurant operator’s stock worth $4,268,000 after purchasing an additional 271,684 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

About Denny’s

Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny’s and Other segments. The Denny’s segment includes the results of all company and franchised and licensed Denny’s restaurants. The Other segment refers to the results of all company and franchise restaurants.