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

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Denny’s

In other Denny’s news, Director John C. Miller sold 35,359 shares of Denny’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 740,626 shares of the company’s stock, valued at approximately $6,850,790.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Denny’s

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in Denny’s during the first quarter valued at approximately $29,000. Metropolitan Life Insurance Co NY lifted its position in shares of Denny’s by 31.4% during 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. Tower Research Capital LLC TRC boosted its stake in shares of Denny’s by 100.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,317 shares of the restaurant operator’s stock worth $41,000 after acquiring an additional 1,665 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Denny’s by 37.3% in the 1st quarter. First Horizon Advisors Inc. now owns 3,920 shares of the restaurant operator’s stock worth $44,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Denny’s by 126.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,538 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 2,536 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Denny’s Stock Down 1.5 %

Shares of NASDAQ:DENN opened at $8.13 on Thursday. The company’s 50-day moving average price is $9.04 and its 200 day moving average price is $9.53. The company has a market cap of $431.70 million, a PE ratio of 23.23, a P/E/G ratio of 1.43 and a beta of 1.93. Denny’s has a fifty-two week low of $8.11 and a fifty-two week high of $12.53.

Denny’s (NASDAQ:DENN) last announced its earnings results on Tuesday, February 13th. The restaurant operator reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). The business had revenue of $115.40 million for the quarter, compared to the consensus estimate of $115.67 million. Denny’s had a net margin of 4.30% and a negative return on equity of 70.78%. The firm’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. As a group, equities analysts anticipate that Denny’s will post 0.64 EPS for the current year.

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.