Denny’s Target of Unusually Large Options Trading (NASDAQ:DENN)

Denny’s Corporation (NASDAQ:DENN) was the target of some unusual options trading on Monday. Stock traders purchased 21,666 put options on the company. This is an increase of 3,935% compared to the typical volume of 537 put options.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Benchmark cut their price target on Denny’s from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Piper Sandler set a $4.00 price target on Denny’s and gave the company a “neutral” rating in a report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Denny’s currently has a consensus rating of “Moderate Buy” and an average price target of $6.46.

Denny’s Stock Performance

Shares of DENN opened at $5.25 on Wednesday. The stock has a 50 day simple moving average of $4.27 and a 200 day simple moving average of $4.03. Denny’s has a 52-week low of $2.85 and a 52-week high of $7.73. The firm has a market capitalization of $270.38 million, a PE ratio of 16.94 and a beta of 1.63.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings data on Monday, August 4th. The restaurant operator reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Denny’s had a net margin of 3.53% and a negative return on equity of 59.51%. The business had revenue of $117.66 million during the quarter, compared to analyst estimates of $118.14 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Denny’s’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts predict that Denny’s will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Denny’s

A number of large investors have recently bought and sold shares of DENN. CWM LLC boosted its position in Denny’s by 217.7% during the 1st quarter. CWM LLC now owns 6,725 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 4,608 shares during the last quarter. Park Avenue Securities LLC acquired a new position in Denny’s during the 1st quarter worth approximately $40,000. Cerity Partners LLC acquired a new position in Denny’s during the 1st quarter worth approximately $41,000. Gilbert & Cook Inc. acquired a new stake in shares of Denny’s in the 1st quarter valued at approximately $44,000. Finally, Bank of Montreal Can bought a new position in shares of Denny’s in the second quarter valued at $48,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

About Denny’s

Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny’s and Other segments. The Denny’s segment includes the results of all company and franchised and licensed Denny’s restaurants. The Other segment refers to the results of all company and franchise restaurants.