Denny’s Corporation (NASDAQ:DENN) Short Interest Up 22.3% in December

Denny’s Corporation (NASDAQ:DENN) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 5,823,735 shares, an increase of 22.3% from the December 15th total of 4,762,900 shares. Currently, 11.8% of the shares of the company are sold short. Based on an average trading volume of 1,346,915 shares, the short-interest ratio is presently 4.3 days. Based on an average trading volume of 1,346,915 shares, the short-interest ratio is presently 4.3 days. Currently, 11.8% of the shares of the company are sold short.

Denny’s Price Performance

NASDAQ DENN opened at $6.25 on Wednesday. The business has a 50 day moving average price of $6.20 and a 200 day moving average price of $5.19. The company has a market capitalization of $321.62 million, a P/E ratio of 31.23 and a beta of 1.37. Denny’s has a 1-year low of $2.85 and a 1-year high of $7.66.

Denny’s (NASDAQ:DENN) last posted its earnings results on Tuesday, November 4th. The restaurant operator reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.03). Denny’s had a net margin of 2.24% and a negative return on equity of 60.26%. The firm had revenue of $113.24 million during the quarter, compared to analyst estimates of $116.91 million. During the same period last year, the company posted $0.14 EPS. The firm’s revenue for the quarter was up 202.6% on a year-over-year basis. On average, research analysts expect that Denny’s will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jumana Capital Investments Llc purchased 250,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $4.08 per share, with a total value of $1,020,000.00. Following the completion of the acquisition, the insider directly owned 4,524,905 shares of the company’s stock, valued at approximately $18,461,612.40. This trade represents a 5.85% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Denny’s

Hedge funds have recently added to or reduced their stakes in the business. Boston Partners lifted its holdings in shares of Denny’s by 56.7% in the second quarter. Boston Partners now owns 3,951,187 shares of the restaurant operator’s stock valued at $16,196,000 after purchasing an additional 1,430,102 shares in the last quarter. JCP Investment Management LLC acquired a new position in shares of Denny’s during the 3rd quarter worth approximately $4,338,000. Monimus Capital Management LP purchased a new stake in Denny’s in the 2nd quarter valued at approximately $1,307,000. Royce & Associates LP lifted its stake in Denny’s by 49.9% in the 3rd quarter. Royce & Associates LP now owns 816,042 shares of the restaurant operator’s stock valued at $4,268,000 after buying an additional 271,684 shares in the last quarter. Finally, CIBRA Capital Ltd acquired a new stake in Denny’s during the 4th quarter valued at $1,592,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Denny’s in a research report on Monday, December 29th. Truist Financial restated a “hold” rating and issued a $6.00 price target on shares of Denny’s in a research note on Tuesday, November 4th. Benchmark lowered Denny’s from a “buy” rating to a “hold” rating in a report on Wednesday, November 5th. Mizuho upgraded Denny’s to a “hold” rating in a research report on Tuesday, October 28th. Finally, Oppenheimer lowered shares of Denny’s from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 4th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.96.

Denny’s Company Profile

Denny’s Corporation operates one of the largest full-service, family‐style restaurant chains in the United States, specializing in classic American diner fare. The company’s menu features breakfast, lunch and dinner offerings served around the clock, with signature items such as the Grand Slam breakfast, burgers, sandwiches and a variety of savory skillets. As a publicly traded entity under the symbol DENN on NASDAQ, Denny’s focuses on providing an accessible dining experience for a broad customer base, including families, travelers and late‐night diners.

The company’s business model combines both franchised and company‐owned locations.