Barclays PLC Sells 7,887 Shares of Denny’s Corp (NASDAQ:DENN)

Barclays PLC cut its holdings in Denny’s Corp (NASDAQ:DENN) by 7.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 103,097 shares of the restaurant operator’s stock after selling 7,887 shares during the quarter. Barclays PLC owned 0.17% of Denny’s worth $2,347,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DENN. FMR LLC grew its stake in shares of Denny’s by 102.6% in the 1st quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock worth $43,874,000 after buying an additional 1,211,020 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in Denny’s in the second quarter worth about $11,045,000. APG Asset Management N.V. grew its position in Denny’s by 341.4% in the second quarter. APG Asset Management N.V. now owns 380,900 shares of the restaurant operator’s stock worth $6,867,000 after acquiring an additional 294,600 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Denny’s in the second quarter worth about $5,743,000. Finally, First Trust Advisors LP bought a new stake in Denny’s during the second quarter worth approximately $4,451,000. 90.63% of the stock is owned by hedge funds and other institutional investors.

Shares of Denny’s stock opened at $20.15 on Wednesday. The stock’s fifty day moving average is $20.23 and its two-hundred day moving average is $21.35. The company has a market capitalization of $1.20 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 3.21 and a beta of 0.05. Denny’s Corp has a 52 week low of $15.53 and a 52 week high of $23.88.

Denny’s (NASDAQ:DENN) last released its earnings results on Tuesday, October 29th. The restaurant operator reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $124.30 million during the quarter, compared to the consensus estimate of $126.62 million. Denny’s had a negative return on equity of 34.15% and a net margin of 18.80%. The business’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. On average, equities analysts anticipate that Denny’s Corp will post 0.68 EPS for the current year.

A number of equities analysts have recently commented on the company. MKM Partners began coverage on Denny’s in a report on Thursday, September 26th. They issued a “neutral” rating and a $25.00 target price for the company. Maxim Group raised their price target on Denny’s from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Wedbush set a $25.00 price objective on shares of Denny’s and gave the stock a “buy” rating in a research note on Friday, August 16th. ValuEngine cut shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, CL King assumed coverage on shares of Denny’s in a research note on Tuesday, October 1st. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $24.40.

In other news, CFO F Mark Wolfinger sold 3,816 shares of Denny’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $22.82, for a total transaction of $87,081.12. Following the completion of the sale, the chief financial officer now owns 779,796 shares of the company’s stock, valued at $17,794,944.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Timothy E. Flemming sold 50,873 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $22.82, for a total value of $1,160,921.86. Following the completion of the sale, the vice president now owns 100,828 shares of the company’s stock, valued at approximately $2,300,894.96. The disclosure for this sale can be found here. Insiders have sold a total of 167,501 shares of company stock valued at $3,656,382 in the last quarter. 6.10% of the stock is currently owned by company insiders.

About Denny’s

Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.

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Institutional Ownership by Quarter for Denny`s (NASDAQ:DENN)

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