Walleye Trading LLC Cuts Stake in Denny’s Co. (NASDAQ:DENN)

Walleye Trading LLC decreased its holdings in Denny’s Co. (NASDAQ:DENNGet Rating) by 78.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,406 shares of the restaurant operator’s stock after selling 37,308 shares during the period. Walleye Trading LLC’s holdings in Denny’s were worth $90,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DENN. Quantbot Technologies LP bought a new stake in Denny’s during the 1st quarter valued at $29,000. Counterpoint Mutual Funds LLC bought a new stake in Denny’s during the 2nd quarter valued at $102,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Denny’s during the 2nd quarter valued at $152,000. Y Intercept Hong Kong Ltd bought a new stake in Denny’s during the 2nd quarter valued at $176,000. Finally, SG Americas Securities LLC raised its holdings in Denny’s by 44.9% during the 1st quarter. SG Americas Securities LLC now owns 16,037 shares of the restaurant operator’s stock valued at $229,000 after buying an additional 4,969 shares during the last quarter. 84.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John C. Miller sold 150,000 shares of the stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $11.61, for a total value of $1,741,500.00. Following the completion of the transaction, the director now directly owns 776,721 shares in the company, valued at approximately $9,017,730.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director John C. Miller sold 150,000 shares of the stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $11.61, for a total transaction of $1,741,500.00. Following the sale, the director now directly owns 776,721 shares of the company’s stock, valued at approximately $9,017,730.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brenda J. Lauderback sold 5,421 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $12.83, for a total transaction of $69,551.43. The disclosure for this sale can be found here. Insiders sold a total of 255,421 shares of company stock worth $2,986,051 in the last three months. 5.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DENN. Wedbush upgraded shares of Denny’s from a “neutral” rating to an “outperform” rating and upped their price target for the company from $10.00 to $12.50 in a report on Tuesday, August 23rd. Citigroup upped their price objective on shares of Denny’s from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, November 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Denny’s from $13.00 to $11.00 in a report on Thursday, August 4th. StockNews.com assumed coverage on shares of Denny’s in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, CL King assumed coverage on shares of Denny’s in a report on Monday, August 29th. They issued a “buy” rating and a $14.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Denny’s Price Performance

Shares of Denny’s stock opened at $12.37 on Friday. The company has a 50-day moving average of $10.65 and a 200 day moving average of $9.98. The firm has a market cap of $707.94 million, a price-to-earnings ratio of 7.41, a PEG ratio of 2.76 and a beta of 1.54. Denny’s Co. has a 1 year low of $8.46 and a 1 year high of $16.97.

Denny’s Company Profile

(Get Rating)

Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 29, 2021, it had 1,640 franchised, licensed, and company restaurants worldwide. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in 2002.

Further Reading

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

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