Envestnet Asset Management Inc. Trims Stock Position in Denny's Co. (NASDAQ:DENN)

Envestnet Asset Management Inc. reduced its stake in Denny's Co. (NASDAQ:DENN - Free Report) by 16.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 506,694 shares of the restaurant operator's stock after selling 97,234 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.99% of Denny's worth $3,065,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DENN. RPO LLC bought a new position in shares of Denny's during the fourth quarter valued at about $63,000. SG Americas Securities LLC grew its holdings in shares of Denny's by 25.3% in the fourth quarter. SG Americas Securities LLC now owns 23,272 shares of the restaurant operator's stock valued at $141,000 after acquiring an additional 4,704 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Denny's by 84.0% during the fourth quarter. Intech Investment Management LLC now owns 23,771 shares of the restaurant operator's stock valued at $144,000 after acquiring an additional 10,850 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in Denny's by 138.8% during the fourth quarter. EntryPoint Capital LLC now owns 25,783 shares of the restaurant operator's stock worth $156,000 after acquiring an additional 14,985 shares during the period. Finally, Trexquant Investment LP boosted its position in Denny's by 50.5% in the fourth quarter. Trexquant Investment LP now owns 75,079 shares of the restaurant operator's stock worth $454,000 after purchasing an additional 25,200 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DENN shares. Piper Sandler lowered their target price on Denny's from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. Citigroup decreased their price target on shares of Denny's from $7.00 to $6.25 and set a "buy" rating for the company in a research note on Thursday, April 24th. StockNews.com lowered Denny's from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Wedbush cut their price target on Denny's from $10.00 to $8.50 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Finally, Oppenheimer lowered their price objective on Denny's from $8.00 to $7.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $7.63.

Insider Activity at Denny's

In other Denny's news, CEO Kelli Valade purchased 9,700 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of $5.13 per share, for a total transaction of $49,761.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen C. Dunn acquired 9,815 shares of the firm's stock in a transaction that occurred on 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 acquisition, the executive vice president now owns 113,666 shares of the company's stock, valued at $577,423.28. This represents a 9.45 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 20,465 shares of company stock worth $104,457 in the last three months. 4.20% of the stock is owned by company insiders.

Denny's Trading Up 0.4 %

Denny's stock traded up $0.02 on Thursday, hitting $3.71. 153,985 shares of the stock traded hands, compared to its average volume of 898,847. The firm has a market cap of $190.72 million, a P/E ratio of 9.04 and a beta of 1.87. The business's fifty day simple moving average is $3.80 and its 200 day simple moving average is $5.39. Denny's Co. has a 1 year low of $2.85 and a 1 year high of $8.30.

Denny's (NASDAQ:DENN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. 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 negative return on equity of 50.01% and a net margin of 4.77%. As a group, analysts predict that Denny's Co. will post 0.5 earnings per share for the current year.

Denny's Profile

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.