Legal & General Group Plc Cuts Stake in Denny’s Corporation (DENN)
Legal & General Group Plc lessened its position in shares of Denny’s Corporation (NASDAQ:DENN) by 6.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,233 shares of the restaurant operator’s stock after selling 1,183 shares during the quarter. Legal & General Group Plc’s holdings in Denny’s Corporation were worth $203,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Denny’s Corporation during the first quarter valued at $119,000. HighTower Advisors LLC lifted its stake in shares of Denny’s Corporation by 5.8% during the first quarter. HighTower Advisors LLC now owns 12,116 shares of the restaurant operator’s stock valued at $150,000 after acquiring an additional 666 shares during the period. Citadel Advisors LLC acquired a new position in shares of Denny’s Corporation during the first quarter valued at $162,000. KCG Holdings Inc. acquired a new position in shares of Denny’s Corporation during the first quarter valued at $171,000. Finally, GW&K Investment Management LLC lifted its stake in shares of Denny’s Corporation by 33.9% during the second quarter. GW&K Investment Management LLC now owns 15,450 shares of the restaurant operator’s stock valued at $182,000 after acquiring an additional 3,910 shares during the period. 92.42% of the stock is currently owned by institutional investors and hedge funds.
Denny’s Corporation (DENN) opened at 12.95 on Friday. Denny’s Corporation has a 52 week low of $10.02 and a 52 week high of $14.25. The firm has a market cap of $869.92 million, a price-to-earnings ratio of 25.39 and a beta of 0.60. The stock’s 50 day moving average price is $12.16 and its 200 day moving average price is $11.99.
Denny’s Corporation (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, August 1st. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Denny’s Corporation had a net margin of 7.34% and a negative return on equity of 60.77%. The business had revenue of $133.40 million during the quarter, compared to analyst estimates of $131.62 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Denny’s Corporation will post $0.56 EPS for the current year.
DENN has been the topic of several research reports. Zacks Investment Research raised Denny’s Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Denny’s Corporation in a research note on Sunday, July 30th. Finally, BidaskClub lowered Denny’s Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $12.67.
In related news, VP Stephen C. Dunn sold 5,111 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $11.89, for a total transaction of $60,769.79. Following the transaction, the vice president now directly owns 93,179 shares of the company’s stock, valued at approximately $1,107,898.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.20% of the stock is currently owned by corporate insiders.
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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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