Denny’s Co. (NASDAQ:DENN) Short Interest Update

Denny’s Co. (NASDAQ:DENN) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 1,910,000 shares, an increase of 27.3% from the October 15th total of 1,500,000 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average daily volume of 608,300 shares, the short-interest ratio is presently 3.1 days.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Oppenheimer dropped their price objective on Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Benchmark dropped their price target on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Truist Financial reduced their price objective on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, October 28th. StockNews.com lowered shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Citigroup upgraded shares of Denny’s from a “neutral” rating to a “buy” rating and upped their price target for the stock from $7.00 to $7.50 in a research report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.70.

Institutional Trading of Denny’s

Large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new position in Denny’s in the 2nd quarter valued at about $25,000. CWM LLC grew its position in Denny’s by 726.2% in the second quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock worth $26,000 after acquiring an additional 3,239 shares during the period. Quarry LP grew its position in Denny’s by 161.5% in the second quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 2,617 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Denny’s in the second quarter valued at $31,000. Finally, Sanctuary Advisors LLC purchased a new stake in Denny’s in the second quarter valued at $77,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Denny’s Trading Up 0.3 %

NASDAQ:DENN opened at $6.54 on Friday. The company has a market cap of $335.70 million, a P/E ratio of 19.82, a P/E/G ratio of 1.39 and a beta of 2.02. Denny’s has a twelve month low of $5.37 and a twelve month high of $11.16. The company’s 50-day moving average price is $6.46 and its 200-day moving average price is $6.76.

Denny’s (NASDAQ:DENN) last released its earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $115.46 million. Denny’s had a negative return on equity of 48.64% and a net margin of 3.90%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.17 earnings per share. On average, analysts expect that Denny’s will post 0.52 earnings per share for the current year.

About Denny’s

Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.