Gamco Investors INC. ET AL decreased its stake in shares of Denny’s Co. (NASDAQ:DENN) by 13.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 269,610 shares of the restaurant operator’s stock after selling 42,800 shares during the period. Gamco Investors INC. ET AL owned 0.40% of Denny’s worth $3,357,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Denny’s by 68.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,957 shares of the restaurant operator’s stock worth $116,000 after purchasing an additional 4,041 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Denny’s in the 1st quarter worth about $119,000. BNP Paribas Arbitrage SA raised its stake in Denny’s by 939.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,376 shares of the restaurant operator’s stock worth $134,000 after purchasing an additional 10,282 shares in the last quarter. HighTower Advisors LLC raised its stake in Denny’s by 5.8% in the 1st quarter. HighTower Advisors LLC now owns 12,116 shares of the restaurant operator’s stock worth $150,000 after purchasing an additional 666 shares in the last quarter. Finally, KCG Holdings Inc. acquired a new stake in Denny’s in the 1st quarter worth about $171,000. 94.77% of the stock is owned by institutional investors and hedge funds.
Denny’s Co. (DENN) opened at $12.30 on Monday. The company has a market cap of $802.98, a P/E ratio of 21.58 and a beta of 0.57. The company has a quick ratio of 0.36, a current ratio of 0.40 and a debt-to-equity ratio of -2.95. Denny’s Co. has a 12-month low of $10.87 and a 12-month high of $14.25.
Denny’s (NASDAQ:DENN) last issued its earnings results on Wednesday, November 1st. The restaurant operator reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $132.38 million during the quarter, compared to analyst estimates of $133.58 million. Denny’s’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 earnings per share. sell-side analysts predict that Denny’s Co. will post 0.55 earnings per share for the current fiscal year.
Denny’s declared that its board has initiated a share buyback program on Tuesday, October 31st that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the restaurant operator to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
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Several analysts have weighed in on DENN shares. TheStreet upgraded shares of Denny’s from a “c+” rating to a “b-” rating in a research note on Monday, October 16th. Zacks Investment Research upgraded shares of Denny’s from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Wedbush reiterated an “outperform” rating on shares of Denny’s in a research note on Tuesday, August 8th. Finally, BidaskClub cut shares of Denny’s from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.67.
In other news, VP Stephen C. Dunn sold 5,111 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $11.89, for a total value of $60,769.79. Following the completion of the transaction, the vice president now directly owns 93,179 shares in the company, valued at approximately $1,107,898.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.20% of the stock is currently owned by insiders.
Denny’s Company Profile
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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