Denny's Corp (NASDAQ:DENN) director Brenda J. Lauderback has sold a total of 11,145 shares of the company's common stock, according to a recent SEC filing. The transaction, which took place on May 22, 2024, amounted to over $82,000, with the shares being sold at a weighted average price of $7.3584.
The filing disclosed that the sales were executed in multiple transactions at prices ranging from $7.301 to $7.39. Following the sale, Lauderback's direct ownership in the company stands at 15,406 shares.
Investors often monitor insider transactions as they provide insights into how company executives view the stock's value. While the reasons behind Lauderback's decision to sell shares were not disclosed in the filing, the reported transactions provide transparency regarding executive movements in the company's stock.
Denny's Corp, with its headquarters in Spartanburg, South Carolina, operates as a full-service restaurant chain. The company's stock performance and insider transactions are closely watched by investors seeking to understand market trends and potential shifts in company strategy or outlook.
The filing was signed on behalf of Lauderback by Jasmine E. Taylor, Attorney-in-Fact, on May 23, 2024. Denny's Corp and its shareholders can request detailed information about the sales, including the number of shares sold at each price within the reported range, as per the SEC filing.
InvestingPro Insights
As Denny's Corp (NASDAQ:DENN) experiences insider stock transactions, it's essential for investors to consider the broader financial context of the company. According to InvestingPro data, Denny's boasts a market capitalization of $371.93 million, reflecting its overall market value. The company's price-to-earnings (P/E) ratio stands at 16.28, while its adjusted P/E ratio for the last twelve months as of Q1 2024 is more favorable at 10.88, suggesting that the stock could be undervalued relative to its earnings.
Investors may also find the company's revenue figures insightful. Denny's reported a revenue of $456.43 million over the last twelve months as of Q1 2024. However, this also came with a slight revenue decline of 3.05% during the same period. This contraction could be a factor in the recent stock price movements.
Two InvestingPro Tips that can shed light on the current situation include the company's aggressive share buyback strategy and the fact that the stock is trading near its 52-week low, indicating potential undervaluation. These actions could signal management's confidence in the company's value and future prospects. Additionally, the Relative Strength Index (RSI) suggests the stock is in oversold territory, which might attract investors looking for a potential rebound.
For those interested in a deeper dive into Denny's financials and strategic insights, InvestingPro offers a comprehensive array of additional tips. In fact, there are 13 more InvestingPro Tips available, which can be accessed at https://www.investing.com/pro/DENN. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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