Denny’s Corp (NASDAQ:DENN) Short Interest Update

Denny’s Corp (NASDAQ:DENN) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 1,997,700 shares, a drop of 6.3% from the May 30th total of 2,131,500 shares. Based on an average daily volume of 380,000 shares, the days-to-cover ratio is currently 5.3 days. Approximately 3.4% of the company’s stock are short sold.

Denny’s stock opened at $21.71 on Friday. Denny’s has a 1-year low of $13.32 and a 1-year high of $21.75. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 31.93 and a beta of 0.15. The firm has a fifty day simple moving average of $20.43.

Denny’s (NASDAQ:DENN) last released its quarterly earnings results on Tuesday, April 30th. The restaurant operator reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. Denny’s had a net margin of 7.89% and a negative return on equity of 34.51%. The company had revenue of $151.41 million for the quarter, compared to analyst estimates of $149.01 million. During the same period last year, the firm earned $0.15 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. Analysts predict that Denny’s will post 0.64 earnings per share for the current year.

A number of research firms have weighed in on DENN. Wedbush set a $20.00 price objective on shares of Plymouth Industrial Reit and gave the company a “buy” rating in a research note on Monday, May 20th. Maxim Group began coverage on shares of ContraFect in a research note on Tuesday, June 11th. They issued a “buy” rating on the stock. Zacks Investment Research lowered shares of Inflarx from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, BidaskClub lowered shares of Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $20.00.

In other Denny’s news, CFO F Mark Wolfinger sold 30,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $20.71, for a total value of $621,300.00. Following the transaction, the chief financial officer now directly owns 783,480 shares of the company’s stock, valued at $16,225,870.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John William Dillon sold 10,360 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $19.24, for a total transaction of $199,326.40. Following the completion of the transaction, the senior vice president now directly owns 80,208 shares in the company, valued at $1,543,201.92. The disclosure for this sale can be found here. Insiders sold 156,110 shares of company stock valued at $3,162,497 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DENN. FMR LLC lifted its position in shares of Denny’s by 102.6% during the first quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock valued at $43,874,000 after purchasing an additional 1,211,020 shares in the last quarter. Monarch Partners Asset Management LLC bought a new position in shares of Denny’s during the first quarter valued at about $8,827,000. Millennium Management LLC lifted its position in shares of Denny’s by 189.5% during the fourth quarter. Millennium Management LLC now owns 462,051 shares of the restaurant operator’s stock valued at $7,490,000 after purchasing an additional 302,473 shares in the last quarter. Martingale Asset Management L P lifted its position in shares of Denny’s by 85.4% during the first quarter. Martingale Asset Management L P now owns 296,824 shares of the restaurant operator’s stock valued at $5,447,000 after purchasing an additional 136,710 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Denny’s by 286.2% during the fourth quarter. Two Sigma Investments LP now owns 163,098 shares of the restaurant operator’s stock valued at $2,644,000 after purchasing an additional 120,863 shares in the last quarter. 92.68% of the stock is currently owned by institutional investors.

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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