Denny’s Co. (NASDAQ:DENN) Sees Large Growth in Short Interest

Denny’s Co. (NASDAQ:DENN) saw a large increase in short interest during the month of 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. Based on an average trading volume of 608,300 shares, the short-interest ratio is currently 3.1 days. Approximately 3.8% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DENN shares. Wedbush reduced their price target on Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Citigroup raised shares of Denny’s from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $7.00 to $7.50 in a research note on Friday, October 25th. Oppenheimer dropped their price target on shares of Denny’s from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Benchmark decreased their price objective on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Truist Financial dropped their target price on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Denny’s has a consensus rating of “Moderate Buy” and a consensus price target of $7.70.

Denny’s Trading Up 0.3 %

NASDAQ:DENN opened at $6.54 on Friday. The company has a 50-day moving average price of $6.46 and a 200-day moving average price of $6.76. The stock has a market cap of $335.70 million, a price-to-earnings ratio of 19.82, a P/E/G ratio of 1.39 and a beta of 2.02. Denny’s has a 12 month low of $5.37 and a 12 month high of $11.16.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny’s had a net margin of 3.90% and a negative return on equity of 48.64%. The firm had revenue of $111.76 million for the quarter, compared to the consensus estimate of $115.46 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. Equities analysts forecast that Denny’s will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Denny’s

A number of institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Denny’s by 6.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator’s stock valued at $55,693,000 after purchasing an additional 558,964 shares during the last quarter. Vanguard Group Inc. increased its position in Denny’s by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock valued at $29,885,000 after buying an additional 89,465 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in Denny’s by 73.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,381,120 shares of the restaurant operator’s stock valued at $8,908,000 after buying an additional 583,660 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Denny’s by 14.1% in the second quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock worth $8,938,000 after acquiring an additional 155,100 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Denny’s by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator’s stock worth $7,618,000 after acquiring an additional 3,902 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

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.