US Bancorp DE Reduces Position in Denny’s Corporation (DENN)
US Bancorp DE cut its position in shares of Denny’s Corporation (NASDAQ:DENN) by 0.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,188 shares of the restaurant operator’s stock after selling 25 shares during the period. US Bancorp DE’s holdings in Denny’s Corporation were worth $849,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Denny’s Corporation during the first quarter worth $119,000. Stevens Capital Management LP purchased a new position in shares of Denny’s Corporation during the first quarter worth $127,000. Koch Industries Inc. purchased a new position in shares of Denny’s Corporation during the first quarter worth $138,000. GW&K Investment Management LLC raised its position in shares of Denny’s Corporation by 15.0% in the first quarter. GW&K Investment Management LLC now owns 11,540 shares of the restaurant operator’s stock worth $143,000 after buying an additional 1,505 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Denny’s Corporation by 5.8% in the first quarter. HighTower Advisors LLC now owns 12,116 shares of the restaurant operator’s stock worth $150,000 after buying an additional 666 shares during the last quarter. Institutional investors own 92.62% of the company’s stock.
Shares of Denny’s Corporation (NASDAQ DENN) traded up 0.67% during mid-day trading on Friday, hitting $12.11. The company’s stock had a trading volume of 107,339 shares. The company has a market cap of $813.49 million, a PE ratio of 23.75 and a beta of 0.61. The stock has a 50-day moving average of $11.68 and a 200-day moving average of $12.07. Denny’s Corporation has a 12-month low of $10.02 and a 12-month high of $14.25.
Denny’s Corporation (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, August 1st. The restaurant operator reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm had revenue of $133.40 million for the quarter, compared to analyst estimates of $131.62 million. Denny’s Corporation had a negative return on equity of 60.77% and a net margin of 7.34%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.13 earnings per share. On average, equities research analysts forecast that Denny’s Corporation will post $0.56 EPS for the current year.
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A number of research analysts have weighed in on DENN shares. Wedbush restated a “buy” rating on shares of Denny’s Corporation in a report on Tuesday, June 6th. Nomura restated a “hold” rating and issued a $12.00 price objective on shares of Denny’s Corporation in a report on Wednesday, May 3rd. Instinet restated a “neutral” rating and issued a $12.00 price objective (up previously from $11.00) on shares of Denny’s Corporation in a report on Wednesday, May 3rd. Zacks Investment Research lowered Denny’s Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, BidaskClub lowered Denny’s Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Denny’s Corporation presently has a consensus rating of “Hold” and a consensus price target of $12.67.
Denny’s Corporation Company Profile
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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