Denny’s (NASDAQ:DENN) Hits New 12-Month High at $20.85
Denny’s Corp (NASDAQ:DENN) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $20.85 and last traded at $20.70, with a volume of 4837 shares trading hands. The stock had previously closed at $20.62.
A number of research analysts have issued reports on the company. Maxim Group cut Denny’s from a “buy” rating to a “hold” rating and set a $21.00 target price on the stock. in a research report on Tuesday. Zacks Investment Research upgraded Denny’s from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd. Finally, BidaskClub upgraded Denny’s from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $20.00.
The stock has a market cap of $1.24 billion, a PE ratio of 30.41 and a beta of 0.13.
In other news, VP Stephen C. Dunn sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $17.68, for a total transaction of $212,160.00. Following the sale, the vice president now directly owns 99,199 shares in the company, valued at $1,753,838.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP F Mark Wolfinger sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $19.38, for a total value of $96,900.00. Following the sale, the executive vice president now owns 780,980 shares in the company, valued at $15,135,392.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,484 shares of company stock worth $2,007,417. Company insiders own 6.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in DENN. FMR LLC boosted its holdings in Denny’s by 102.6% in the first quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock valued at $43,874,000 after acquiring an additional 1,211,020 shares during the last quarter. Monarch Partners Asset Management LLC bought a new stake in Denny’s in the first quarter valued at approximately $8,827,000. Millennium Management LLC boosted its holdings in Denny’s by 189.5% in the fourth quarter. Millennium Management LLC now owns 462,051 shares of the restaurant operator’s stock valued at $7,490,000 after acquiring an additional 302,473 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Denny’s in the fourth quarter valued at approximately $3,480,000. Finally, Martingale Asset Management L P boosted its holdings in Denny’s by 85.4% in the first quarter. Martingale Asset Management L P now owns 296,824 shares of the restaurant operator’s stock valued at $5,447,000 after acquiring an additional 136,710 shares during the last quarter. Institutional investors own 92.85% of the company’s stock.
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About Denny’s (NASDAQ:DENN)
Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.
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