Wells Fargo & Company MN decreased its stake in shares of Denny’s Corporation (NASDAQ:DENN) by 4.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,933,895 shares of the restaurant operator’s stock after selling 224,830 shares during the period. Wells Fargo & Company MN owned 7.56% of Denny’s worth $61,426,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of DENN. Renaissance Technologies LLC increased its holdings in shares of Denny’s by 9.8% during the 2nd quarter. Renaissance Technologies LLC now owns 3,946,911 shares of the restaurant operator’s stock valued at $46,455,000 after acquiring an additional 352,600 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Denny’s during the 2nd quarter valued at about $3,997,000. Lord Abbett & CO. LLC increased its holdings in shares of Denny’s by 8.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,537,141 shares of the restaurant operator’s stock valued at $18,092,000 after acquiring an additional 114,365 shares during the last quarter. Susquehanna International Group LLP increased its holdings in shares of Denny’s by 146.1% during the 2nd quarter. Susquehanna International Group LLP now owns 190,837 shares of the restaurant operator’s stock valued at $2,246,000 after acquiring an additional 113,284 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Denny’s by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,506,528 shares of the restaurant operator’s stock valued at $29,502,000 after acquiring an additional 86,049 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of Denny’s Corporation (NASDAQ:DENN) opened at $13.26 on Friday. Denny’s Corporation has a 52 week low of $10.87 and a 52 week high of $14.25. The firm has a market capitalization of $865.65, a P/E ratio of 23.28 and a beta of 0.57. 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 (NASDAQ:DENN) last announced its earnings results on Wednesday, November 1st. The restaurant operator reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. Denny’s had a negative return on equity of 52.30% and a net margin of 7.21%. The firm had revenue of $132.38 million during the quarter, compared to the consensus estimate of $133.58 million. During the same quarter in the prior year, the company earned $0.13 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. equities analysts forecast that Denny’s Corporation will post 0.55 earnings per share for the current year.
In related news, VP Stephen C. Dunn sold 5,111 shares of the 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 completion of the sale, the vice president now owns 93,179 shares in the company, valued at approximately $1,107,898.31. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP F Mark Wolfinger sold 10,000 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $12.57, for a total value of $125,700.00. Following the sale, the executive vice president now owns 677,697 shares of the company’s stock, valued at approximately $8,518,651.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,731 shares of company stock valued at $1,399,257. 5.20% of the stock is owned by corporate insiders.
A number of research analysts have recently commented on DENN shares. Zacks Investment Research raised Denny’s from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. BidaskClub lowered Denny’s from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Finally, TheStreet upgraded Denny’s from a “c+” rating to a “b-” rating in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.67.
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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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