Denny’s (NASDAQ:DENN) Lowered to “Hold” at BidaskClub

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BidaskClub cut shares of Denny’s (NASDAQ:DENN) from a buy rating to a hold rating in a research note published on Tuesday, BidAskClub reports.

A number of other research analysts have also recently issued reports on DENN. Wedbush reissued a buy rating and issued a $20.00 price objective on shares of Denny’s in a research note on Monday, February 11th. Zacks Investment Research cut shares of Denny’s from a hold rating to a sell rating in a research note on Thursday, February 14th. Finally, Maxim Group reissued a buy rating and issued a $21.00 price objective on shares of Denny’s in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Denny’s has a consensus rating of Buy and a consensus price target of $20.00.

Shares of NASDAQ:DENN opened at $20.64 on Tuesday. The company has a market capitalization of $1.24 billion, a P/E ratio of 30.35 and a beta of 0.13. Denny’s has a 1 year low of $13.32 and a 1 year high of $20.87.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, April 30th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.13. The business had revenue of $151.41 million for the quarter, compared to analysts’ expectations of $149.01 million. Denny’s had a net margin of 7.89% and a negative return on equity of 34.51%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. On average, equities analysts anticipate that Denny’s will post 0.64 EPS for the current fiscal year.

In other Denny’s news, SVP John William Dillon sold 10,360 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $19.24, for a total value of $199,326.40. Following the sale, the senior vice president now owns 80,208 shares in the company, valued at $1,543,201.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stephen C. Dunn sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $17.68, for a total transaction of $212,160.00. Following the completion of the sale, the vice president now owns 99,199 shares in the company, valued at approximately $1,753,838.32. The disclosure for this sale can be found here. Insiders sold 133,484 shares of company stock worth $2,627,217 in the last 90 days. Company insiders own 6.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Lombard Odier Asset Management USA Corp acquired a new stake in Denny’s in the first quarter valued at approximately $191,000. FMR LLC boosted its position in Denny’s by 102.6% in the first quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock valued at $43,874,000 after buying an additional 1,211,020 shares in the last quarter. BlueMountain Capital Management LLC acquired a new stake in Denny’s in the first quarter valued at approximately $134,000. Man Group plc boosted its position in Denny’s by 52.3% in the first quarter. Man Group plc now owns 118,315 shares of the restaurant operator’s stock valued at $2,171,000 after buying an additional 40,644 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Denny’s by 8.3% in the first quarter. Geode Capital Management LLC now owns 844,662 shares of the restaurant operator’s stock valued at $15,499,000 after buying an additional 64,711 shares in the last quarter. Hedge funds and other institutional investors own 92.85% of the company’s stock.

Denny’s Company Profile

Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.

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