Denny’s Co. (NASDAQ:DENN) Director Sells $62,538.50 in Stock

Posted by Defense World Staff on Sep 3rd, 2023

Denny’s Co. (NASDAQ:DENN – Get Free Report) Director John C. Miller sold 6,583 shares of Denny’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $9.50, for a total transaction of $62,538.50. Following the completion of the sale, the director now owns 963,634 shares of the company’s stock, valued at $9,154,523. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Denny’s Price Performance

Shares of NASDAQ:DENN opened at $9.52 on Friday. Denny’s Co. has a 1-year low of $8.66 and a 1-year high of $13.13. The company has a market capitalization of $528.36 million, a P/E ratio of 14.21, a P/E/G ratio of 1.76 and a beta of 1.71. The firm’s 50 day simple moving average is $10.88 and its two-hundred day simple moving average is $11.19.

Denny’s (NASDAQ:DENN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 1st. The restaurant operator reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). The firm had revenue of $116.92 million for the quarter, compared to analysts’ expectations of $120.65 million. Denny’s had a net margin of 8.25% and a negative return on equity of 78.77%. Denny’s’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS. On average, sell-side analysts anticipate that Denny’s Co. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DENN shares. Wedbush reiterated a “neutral” rating and issued a $12.00 price target on shares of Denny’s in a research note on Friday, July 28th. Piper Sandler assumed coverage on shares of Denny’s in a research note on Monday, July 17th. They issued a “neutral” rating and a $12.00 price target for the company. StockNews.com assumed coverage on shares of Denny’s in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Benchmark dropped their price objective on shares of Denny’s from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Finally, Truist Financial dropped their price objective on shares of Denny’s from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.50.

Check Out Our Latest Analysis on Denny’s

Institutional Investors Weigh In On Denny’s

Several institutional investors and hedge funds have recently modified their holdings of the stock. Virginia Retirement Systems ET AL bought a new stake in shares of Denny’s during the second quarter valued at approximately $147,000. Nuveen Asset Management LLC raised its position in shares of Denny’s by 0.3% during the second quarter. Nuveen Asset Management LLC now owns 895,014 shares of the restaurant operator’s stock valued at $11,027,000 after buying an additional 2,756 shares during the last quarter. Cullen Capital Management LLC raised its position in shares of Denny’s by 1.5% during the second quarter. Cullen Capital Management LLC now owns 87,472 shares of the restaurant operator’s stock valued at $1,078,000 after buying an additional 1,273 shares during the last quarter. Royal Bank of Canada raised its position in shares of Denny’s by 11.8% during the second quarter. Royal Bank of Canada now owns 15,661 shares of the restaurant operator’s stock valued at $193,000 after buying an additional 1,648 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Denny’s by 100.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,317 shares of the restaurant operator’s stock valued at $41,000 after buying an additional 1,665 shares during the last quarter. Institutional investors own 84.50% of the company’s stock.

About Denny’s

(Get Free Report)

Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brand in the United States and internationally. The company operates in two segments: Denny's and Other. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.