Short Interest in Denny’s Co. (NASDAQ:DENN) Drops By 6.7%

Denny’s Co. (NASDAQ:DENN) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 2,230,000 shares, a decrease of 6.7% from the March 15th total of 2,390,000 shares. Approximately 4.5% of the company’s stock are short sold. Based on an average trading volume of 488,600 shares, the short-interest ratio is currently 4.6 days.

Denny’s Trading Down 0.2 %

DENN traded down $0.02 on Wednesday, reaching $8.23. The company had a trading volume of 53,701 shares, compared to its average volume of 486,907. The company has a fifty day moving average of $9.08 and a 200-day moving average of $9.54. The company has a market capitalization of $437.01 million, a P/E ratio of 23.57, a PEG ratio of 1.44 and a beta of 1.93. Denny’s has a one year low of $8.11 and a one year high of $12.53.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, February 13th. The restaurant operator reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). Denny’s had a net margin of 4.30% and a negative return on equity of 70.78%. The business had revenue of $115.40 million during the quarter, compared to analyst estimates of $115.67 million. During the same period in the previous year, the company posted $0.18 earnings per share. Denny’s’s revenue was down 4.5% compared to the same quarter last year. Research analysts predict that Denny’s will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on DENN. StockNews.com upgraded shares of Denny’s from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Truist Financial lowered their target price on shares of Denny’s from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Oppenheimer lowered their price target on shares of Denny’s from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Finally, Wedbush lowered their price target on shares of Denny’s from $11.00 to $10.50 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.92.

Insider Activity at Denny’s

In related news, Director John C. Miller sold 35,359 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $9.25, for a total value of $327,070.75. Following the sale, the director now directly owns 740,626 shares of the company’s stock, valued at $6,850,790.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Denny’s

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY lifted its holdings in Denny’s by 31.4% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,535 shares of the restaurant operator’s stock valued at $33,000 after acquiring an additional 844 shares during the last quarter. Legal & General Group Plc lifted its holdings in Denny’s by 4.4% in the 4th quarter. Legal & General Group Plc now owns 23,515 shares of the restaurant operator’s stock valued at $217,000 after acquiring an additional 992 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Denny’s by 37.3% in the 1st quarter. First Horizon Advisors Inc. now owns 3,920 shares of the restaurant operator’s stock valued at $44,000 after acquiring an additional 1,065 shares during the last quarter. Cullen Capital Management LLC lifted its stake in 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 in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Denny’s by 34.2% during the third quarter. Tower Research Capital LLC TRC now owns 5,113 shares of the restaurant operator’s stock valued at $48,000 after buying an additional 1,304 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Denny’s Company Profile

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