Insider Trading: Significant Buy at Denny's Corporation on Jun 18
Several insider transactions have taken place at Denny's Corporation recently, with notable activity on June 18, 2024. Sr. VP, CAO & Corp. Controller Gilmore Jay C purchased $78,118 worth of shares, acquiring 12,000 units at $6.51. This transaction increased Gilmore's direct ownership by 11% to 121,227 units based on SEC Form 4.
The purchase by Gilmore stands out as a significant move, demonstrating confidence in the company's future prospects. Insider purchases are generally considered bullish signals, indicating insiders believe the stock is undervalued or that positive developments are on the horizon.
Looking at earlier transactions, we see a conversion of options by Miller John C on May 16, where 10,271 shares were acquired, increasing direct ownership by 1% to 750,897 units. While this transaction was relatively small in comparison to Gilmore's recent purchase, it still reflects insider belief in the company's performance.
Similarly, on the same date, Ward Laysha and Gutierrez Jose M also converted options into 10,271 shares each, increasing their direct ownership by 20% to 61,542 units and 62,380 units, respectively. These transactions indicate a collective sentiment among insiders regarding the company's future.
On May 21, Brenda J Lauderback significantly increased her direct ownership by 72% through the conversion of 11,145 shares. However, just two days later, on May 23, Lauderback sold $82,009 worth of shares, reducing her direct ownership by 42% to 15,406 units. This mixed activity might indicate a change in personal circumstances rather than a reflection of the company's prospects.
Mark R Vondrasek, a new insider, claimed no ownership of stock in the company on June 5, according to SEC Form 3. While this does not provide a direct signal, it is worth noting in the context of other insider activities.
On June 18, 2024, EVP, Chief Financial Officer Robert P. Verostek bought $65,299 worth of shares, acquiring 10,000 units at $6.53. Verostek's purchase, similar to Gilmore's, signals confidence in Denny's Corporation's future performance.
When analyzing these insider transactions collectively, a pattern of increased direct ownership through share conversions and purchases emerges. While Brenda J Lauderback's sale may seem contradictory, the overall sentiment remains positive. Insiders seem to believe in the company's potential for growth and value.
It is essential to note that insider transactions, particularly purchases, can provide valuable insights for investors. They indicate insiders' sentiment towards the company and can serve as a positive indicator for future stock performance.
Investors should consider these insider activities alongside other fundamental and technical analyses to make informed decisions regarding Denny's Corporation's stock.