Denny’s Corporation (NASDAQ:DENN) Sees Significant Decrease in Short Interest

Denny’s Corporation (NASDAQ:DENN) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 4,836,855 shares, a decrease of 16.9% from the December 31st total of 5,823,735 shares. Approximately 9.8% of the shares of the company are sold short. Based on an average daily trading volume, of 1,471,555 shares, the days-to-cover ratio is currently 3.3 days. Based on an average daily trading volume, of 1,471,555 shares, the days-to-cover ratio is currently 3.3 days. Approximately 9.8% of the shares of the company are sold short.

Denny’s Stock Down 0.2%

NASDAQ DENN traded down $0.02 on Wednesday, reaching $6.25. The company had a trading volume of 4,056,515 shares, compared to its average volume of 1,436,278. The stock has a market capitalization of $321.62 million, a PE ratio of 31.23 and a beta of 1.37. Denny’s has a 12 month low of $2.85 and a 12 month high of $7.66. The firm’s 50 day moving average price is $6.22 and its 200 day moving average price is $5.34.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $116.91 million. The company’s revenue for the quarter was up 202.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. On average, research analysts expect that Denny’s will post 0.5 EPS for the current year.

Institutional Trading of Denny’s

Several hedge funds have recently modified their holdings of DENN. Boston Partners grew 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 bought a new position in Denny’s during the third quarter valued at $4,338,000. Monimus Capital Management LP purchased a new position in shares of Denny’s in the 2nd quarter worth $1,307,000. Credit Industriel ET Commercial purchased a new position in shares of Denny’s in the 4th quarter worth $1,793,000. Finally, Royce & Associates LP increased its holdings in shares of Denny’s by 49.9% in the 3rd quarter. Royce & Associates LP now owns 816,042 shares of the restaurant operator’s stock worth $4,268,000 after buying an additional 271,684 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

About Denny’s

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.