MetLife Investment Advisors LLC acquired a new stake in Denny’s (NASDAQ:DENN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 31,940 shares of the restaurant operator’s stock, valued at approximately $423,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. First Republic Investment Management Inc. bought a new position in Denny’s in the 4th quarter valued at approximately $153,000. Landscape Capital Management L.L.C. bought a new position in Denny’s in the 4th quarter valued at approximately $160,000. Paloma Partners Management Co bought a new position in Denny’s in the 4th quarter valued at approximately $165,000. Sawgrass Asset Management LLC bought a new position in Denny’s in the 4th quarter valued at approximately $223,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in Denny’s in the 4th quarter valued at approximately $243,000. Institutional investors and hedge funds own 90.60% of the company’s stock.
Several research analysts have issued reports on DENN shares. BidaskClub upgraded shares of Denny’s from a “buy” rating to a “strong-buy” rating in a report on Friday, March 30th. Zacks Investment Research lowered shares of Denny’s from a “hold” rating to a “sell” rating in a report on Tuesday, March 27th. ValuEngine upgraded shares of Denny’s from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Finally, Wedbush restated a “buy” rating and set a $16.00 price target on shares of Denny’s in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Denny’s presently has a consensus rating of “Buy” and a consensus target price of $13.33.
In other news, COO Christopher D. Bode sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $15.45, for a total transaction of $100,425.00. Following the completion of the sale, the chief operating officer now owns 65,488 shares of the company’s stock, valued at approximately $1,011,789.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP F Mark Wolfinger sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $14.91, for a total transaction of $298,200.00. Following the sale, the executive vice president now directly owns 725,894 shares of the company’s stock, valued at approximately $10,823,079.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,505 shares of company stock valued at $2,558,623. Insiders own 5.80% of the company’s stock.
Denny’s stock opened at $16.59 on Monday. The company has a debt-to-equity ratio of -2.94, a current ratio of 0.43 and a quick ratio of 0.40. Denny’s has a 52-week low of $10.87 and a 52-week high of $16.97. The company has a market cap of $1,066.02, a price-to-earnings ratio of 28.60 and a beta of 0.63.
Denny’s (NASDAQ:DENN) last released its quarterly earnings results on Tuesday, February 13th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.04. Denny’s had a net margin of 7.48% and a negative return on equity of 47.76%. The firm had revenue of $135.50 million during the quarter, compared to analyst estimates of $134.84 million. analysts forecast that Denny’s will post 0.57 earnings per share for the current year.
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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 27, 2017, it had 1,735 franchised, licensed, and company restaurants worldwide, including 128 restaurants in Canada, Puerto Rico, Mexico, New Zealand, Honduras, the Philippines, Costa Rica, Dominican Republic, the United Arab Emirates, Guam, Curaçao, El Salvador, Guatemala, and the United Kingdom.
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