ExodusPoint Capital Management LP Takes Position in Denny's Co. (NASDAQ:DENN)

ExodusPoint Capital Management LP acquired a new stake in shares of Denny's Co. (NASDAQ:DENN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,145 shares of the restaurant operator's stock, valued at approximately $533,000. ExodusPoint Capital Management LP owned 0.17% of Denny's as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Denny's by 95.2% during the 3rd quarter. FMR LLC now owns 12,239 shares of the restaurant operator's stock valued at $79,000 after buying an additional 5,970 shares during the period. State Street Corp boosted its position in Denny's by 0.3% in the third quarter. State Street Corp now owns 1,175,986 shares of the restaurant operator's stock worth $7,585,000 after purchasing an additional 3,142 shares during the last quarter. XTX Topco Ltd grew its stake in shares of Denny's by 588.2% during the 3rd quarter. XTX Topco Ltd now owns 87,470 shares of the restaurant operator's stock valued at $564,000 after purchasing an additional 74,760 shares during the period. Barclays PLC increased its position in shares of Denny's by 342.5% during the 3rd quarter. Barclays PLC now owns 82,257 shares of the restaurant operator's stock valued at $531,000 after purchasing an additional 63,668 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Denny's by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator's stock worth $7,618,000 after purchasing an additional 3,902 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analyst Weigh In

DENN has been the subject of a number of research reports. Oppenheimer reduced their target price on shares of Denny's from $8.00 to $7.00 and set an "outperform" rating for the company in a report on Thursday, February 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 report on Thursday, February 13th. Piper Sandler decreased their price objective 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 cut their price objective on Denny's from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, StockNews.com downgraded shares of Denny's from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $7.75.

Denny's Stock Performance

Shares of Denny's stock traded up $0.02 on Thursday, hitting $2.98. 160,716 shares of the company traded hands, compared to its average volume of 873,055. The business has a 50-day simple moving average of $4.21 and a 200 day simple moving average of $5.58. Denny's Co. has a 52 week low of $2.85 and a 52 week high of $8.41. The stock has a market capitalization of $153.14 million, a P/E ratio of 7.26 and a beta of 1.87.

Denny's (NASDAQ:DENN - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The restaurant operator reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny's had a net margin of 4.77% and a negative return on equity of 50.01%. Research analysts expect that Denny's Co. will post 0.5 earnings per share for the current year.

Insiders Place Their Bets

In other Denny's news, CEO Kelli Valade bought 9,700 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 192,806 shares of the company's stock, valued at $989,094.78. This represents a 5.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephen C. Dunn purchased 9,815 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average price of $5.08 per share, with a total value of $49,860.20. Following the transaction, 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 have bought a total of 20,465 shares of company stock valued at $104,457 in the last quarter. 4.20% of the stock is currently owned by insiders.

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.