Vanguard Group Inc. Sells 34,740 Shares of Denny’s Corp (NASDAQ:DENN)

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Vanguard Group Inc. cut its holdings in shares of Denny’s Corp (NASDAQ:DENN) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,019,731 shares of the restaurant operator’s stock after selling 34,740 shares during the period. Vanguard Group Inc. owned approximately 5.08% of Denny’s worth $61,995,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DENN. AMP Capital Investors Ltd bought a new stake in Denny’s in the 2nd quarter worth about $202,000. Coatue Management LLC bought a new position in shares of Denny’s during the 2nd quarter valued at approximately $1,942,000. A.R.T. Advisors LLC bought a new position in shares of Denny’s during the 2nd quarter valued at approximately $651,000. NumerixS Investment Technologies Inc bought a new position in shares of Denny’s during the 2nd quarter valued at approximately $51,000. Finally, US Bancorp DE grew its position in shares of Denny’s by 2.9% during the 2nd quarter. US Bancorp DE now owns 68,491 shares of the restaurant operator’s stock valued at $1,406,000 after acquiring an additional 1,961 shares during the period. 90.27% of the stock is owned by institutional investors.

Shares of DENN stock opened at $21.89 on Friday. The stock has a market capitalization of $1.32 billion, a P/E ratio of 31.39, a PEG ratio of 3.77 and a beta of 0.16. The firm’s 50 day moving average is $22.97 and its 200 day moving average is $20.86. Denny’s Corp has a 12 month low of $14.00 and a 12 month high of $23.88.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Tuesday, July 30th. The restaurant operator reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.06. The company had revenue of $151.90 million for the quarter, compared to analysts’ expectations of $148.85 million. Denny’s had a net margin of 11.60% and a negative return on equity of 34.91%. Denny’s’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. On average, sell-side analysts anticipate that Denny’s Corp will post 0.66 EPS for the current fiscal year.

In other news, COO Christopher D. Bode sold 50,488 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $23.53, for a total value of $1,187,982.64. Following the transaction, the chief operating officer now owns 56,196 shares of the company’s stock, valued at approximately $1,322,291.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO F Mark Wolfinger sold 3,816 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $22.82, for a total transaction of $87,081.12. Following the completion of the transaction, the chief financial officer now directly owns 779,796 shares in the company, valued at approximately $17,794,944.72. The disclosure for this sale can be found here. Insiders sold a total of 194,146 shares of company stock worth $4,521,833 over the last quarter. Corporate insiders own 6.10% of the company’s stock.

A number of research analysts have recently weighed in on DENN shares. Maxim Group set a $21.00 target price on shares of Denny’s and gave the company a “hold” rating in a research report on Wednesday, July 31st. ValuEngine downgraded shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub downgraded shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Zacks Investment Research downgraded shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Oppenheimer started coverage on shares of Denny’s in a research report on Thursday, September 19th. They set an “outperform” rating and a $27.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $23.33.

Denny’s Profile

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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Institutional Ownership by Quarter for Denny`s (NASDAQ:DENN)

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