Brightworth purchased a new position in Denny’s Corporation (NASDAQ:DENN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,600 shares of the restaurant operator’s stock, valued at approximately $269,000.
A number of other large investors also recently bought and sold shares of DENN. Renaissance Technologies LLC grew its holdings in Denny’s Corporation by 9.8% in the second quarter. Renaissance Technologies LLC now owns 3,946,911 shares of the restaurant operator’s stock worth $46,455,000 after purchasing an additional 352,600 shares during the period. Marshall Wace North America L.P. acquired a new stake in Denny’s Corporation in the second quarter worth $3,997,000. Lord Abbett & CO. LLC grew its holdings in Denny’s Corporation by 8.0% in the second quarter. Lord Abbett & CO. LLC now owns 1,537,141 shares of the restaurant operator’s stock worth $18,092,000 after purchasing an additional 114,365 shares during the period. Susquehanna International Group LLP grew its holdings in Denny’s Corporation by 146.1% in the second quarter. Susquehanna International Group LLP now owns 190,837 shares of the restaurant operator’s stock worth $2,246,000 after purchasing an additional 113,284 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Denny’s Corporation by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,420,479 shares of the restaurant operator’s stock worth $29,941,000 after purchasing an additional 88,086 shares during the period. Institutional investors and hedge funds own 92.30% of the company’s stock.
Denny’s Corporation (NASDAQ:DENN) traded down 0.38% during midday trading on Wednesday, reaching $13.02. 99,765 shares of the company’s stock were exchanged. The company has a market cap of $874.62 million, a price-to-earnings ratio of 25.53 and a beta of 0.60. Denny’s Corporation has a 12-month low of $10.35 and a 12-month high of $14.25. The firm has a 50-day moving average price of $12.62 and a 200 day moving average price of $12.05.
Denny’s Corporation (NASDAQ:DENN) last issued its quarterly earnings data on Tuesday, August 1st. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). The company had revenue of $133.40 million for the quarter, compared to analysts’ expectations of $131.62 million. Denny’s Corporation had a net margin of 7.34% and a negative return on equity of 60.77%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 earnings per share. On average, analysts expect that Denny’s Corporation will post $0.56 EPS for the current fiscal year.
Denny’s Corporation announced that its board has authorized a share buyback program on Tuesday, October 31st that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Denny’s Corporation news, VP Stephen C. Dunn sold 5,111 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $11.89, for a total transaction of $60,769.79. Following the transaction, the vice president now directly owns 93,179 shares of the company’s stock, valued at approximately $1,107,898.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is currently owned by insiders.
A number of equities research analysts have commented on DENN shares. BidaskClub cut shares of Denny’s Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Zacks Investment Research upgraded shares of Denny’s Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Wedbush restated an “outperform” rating on shares of Denny’s Corporation in a report on Tuesday, August 8th. Finally, TheStreet upgraded shares of Denny’s Corporation from a “c+” rating to a “b-” rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Denny’s Corporation presently has an average rating of “Hold” and an average price target of $12.67.
About Denny’s Corporation
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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