Denny's Co. (DENN) Stake Decreased by Skylands Capital LLC
Skylands Capital LLC reduced its stake in shares of Denny's Co. (NASDAQ:DENN) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 116,400 shares of the restaurant operator’s stock after selling 8,563 shares during the period. Skylands Capital LLC’s holdings in Denny's were worth $1,541,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Denny's by 68.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,957 shares of the restaurant operator’s stock worth $116,000 after acquiring an additional 4,041 shares during the period. LMR Partners LLP purchased a new position in shares of Denny's during the 3rd quarter worth about $127,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Denny's by 939.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,376 shares of the restaurant operator’s stock worth $134,000 after acquiring an additional 10,282 shares during the period. Menta Capital LLC purchased a new position in shares of Denny's during the 2nd quarter worth about $172,000. Finally, Magnetar Financial LLC purchased a new position in shares of Denny's during the 3rd quarter worth about $204,000. Institutional investors and hedge funds own 90.99% of the company’s stock.
In related news, EVP F Mark Wolfinger sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $13.44, for a total value of $201,600.00. Following the transaction, the executive vice president now owns 682,697 shares in the company, valued at $9,175,447.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Timothy E. Flemming sold 37,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $12.54, for a total transaction of $463,980.00. Following the completion of the transaction, the vice president now owns 161,741 shares in the company, valued at approximately $2,028,232.14. The disclosure for this sale can be found here. Insiders sold 118,620 shares of company stock worth $1,540,087 in the last 90 days. 5.20% of the stock is currently owned by insiders.
Denny's Co. (NASDAQ:DENN) opened at $15.09 on Wednesday. Denny's Co. has a 1-year low of $10.87 and a 1-year high of $15.31. The company has a debt-to-equity ratio of -2.95, a current ratio of 0.40 and a quick ratio of 0.36. The company has a market cap of $972.71, a P/E ratio of 29.02 and a beta of 0.58.
Denny's (NASDAQ:DENN) last posted its quarterly earnings results on Wednesday, November 1st. The restaurant operator reported $0.14 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. Denny's had a net margin of 7.21% and a negative return on equity of 52.30%. The firm had revenue of $132.38 million for the quarter, compared to analyst estimates of $133.58 million. During the same quarter last year, the firm posted $0.13 earnings per share. Denny's’s revenue for the quarter was up 3.1% compared to the same quarter last year. equities analysts expect that Denny's Co. will post 0.55 EPS for the current fiscal year.
Several research analysts have recently weighed in on the stock. TheStreet upgraded shares of Denny's from a “c+” rating to a “b-” rating in a report on Monday, October 16th. Zacks Investment Research lowered shares of Denny's from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Finally, BidaskClub upgraded shares of Denny's from a “sell” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $12.67.
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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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