Denny's Co. (NASDAQ:DENN) Shares Acquired by CastleKnight Management LP

CastleKnight Management LP boosted its holdings in shares of Denny's Co. (NASDAQ:DENN - Free Report) by 87.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,000 shares of the restaurant operator's stock after purchasing an additional 76,300 shares during the period. CastleKnight Management LP owned about 0.32% of Denny's worth $992,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DENN. Price T Rowe Associates Inc. MD boosted its position in shares of Denny's by 4.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 63,166 shares of the restaurant operator's stock valued at $383,000 after purchasing an additional 2,408 shares in the last quarter. Access Investment Management LLC increased its position in Denny's by 1.5% in the fourth quarter. Access Investment Management LLC now owns 218,235 shares of the restaurant operator's stock worth $1,320,000 after buying an additional 3,135 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Denny's by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 759,837 shares of the restaurant operator's stock worth $4,597,000 after buying an additional 3,538 shares during the last quarter. SG Americas Securities LLC increased its position in Denny's by 25.3% in the fourth quarter. SG Americas Securities LLC now owns 23,272 shares of the restaurant operator's stock worth $141,000 after buying an additional 4,704 shares during the last quarter. Finally, Quarry LP increased its position in Denny's by 178.4% in the fourth quarter. Quarry LP now owns 9,618 shares of the restaurant operator's stock worth $58,000 after buying an additional 6,163 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analyst Weigh In

DENN has been the subject of a number of recent research reports. Oppenheimer cut their price target on Denny's from $7.00 to $6.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Wedbush cut their price target on Denny's from $10.00 to $8.50 and set an "outperform" rating for the company in a report on Thursday, February 13th. StockNews.com lowered Denny's from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Citigroup dropped their price objective on Denny's from $7.00 to $6.25 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Piper Sandler reduced their price target on Denny's from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $7.46.

Insider Buying and Selling

In other Denny's news, CEO Kelli Valade acquired 9,700 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average cost of $5.13 per share, with a total value of $49,761.00. Following the completion of the acquisition, the chief executive officer now directly owns 192,806 shares in the company, valued at $989,094.78. This represents a 5.30% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen C. Dunn acquired 9,815 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were bought at an average cost of $5.08 per share, for a total transaction of $49,860.20. Following the completion of the acquisition, the executive vice president now directly owns 113,666 shares of the company's stock, valued at approximately $577,423.28. The trade was a 9.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 20,465 shares of company stock worth $104,457. Corporate insiders own 4.20% of the company's stock.

Denny's Stock Performance

Shares of NASDAQ DENN traded up $0.24 during midday trading on Monday, hitting $4.71. 385,519 shares of the stock traded hands, compared to its average volume of 916,300. The firm has a 50-day moving average of $3.68 and a two-hundred day moving average of $5.27. The firm has a market capitalization of $241.14 million, a P/E ratio of 11.47 and a beta of 1.63. Denny's Co. has a one year low of $2.85 and a one year high of $8.30.

Denny's (NASDAQ:DENN - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.08. The business had revenue of $111.64 million during the quarter, compared to analyst estimates of $110.11 million. Denny's had a negative return on equity of 50.01% and a net margin of 4.77%. Denny's's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 EPS. Equities analysts forecast that Denny's Co. will post 0.5 earnings per share for the current fiscal year.

About Denny's

Denny's Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny's and Other segments. The Denny's segment includes the results of all company and franchised and licensed Denny's restaurants. The Other segment refers to the results of all company and franchise restaurants.