Boston Partners Acquires 855,192 Shares of Denny's Corporation $DENN

Key Points

• Boston Partners increased its stake in Denny's Corporation by 51.3% during the 1st quarter, owning 2,521,085 shares valued at $9.25 million, representing 4.92% of the company.
• Several institutional investors have also significantly increased their holdings, with CWM LLC raising theirs by 217.7%, indicating strong institutional interest in Denny's.
• Denny's reported a missed earnings estimate for the quarter, with earnings per share at $0.09 compared to the consensus estimate of $0.10, and revenue slightly below expectations at $117.66 million.

Boston Partners boosted its position in Denny's Corporation (NASDAQ:DENN - Free Report) by 51.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,521,085 shares of the restaurant operator's stock after buying an additional 855,192 shares during the period. Boston Partners owned approximately 4.92% of Denny's worth $9,250,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in Denny's by 20.7% in the fourth quarter. Wellington Management Group LLP now owns 1,559,063 shares of the restaurant operator's stock valued at $9,432,000 after buying an additional 267,694 shares during the period. Geode Capital Management LLC lifted its holdings in Denny's by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,187,850 shares of the restaurant operator's stock valued at $7,188,000 after buying an additional 6,971 shares during the period. Olstein Capital Management L.P. raised its holdings in shares of Denny's by 6.2% during the first quarter. Olstein Capital Management L.P. now owns 973,000 shares of the restaurant operator's stock valued at $3,571,000 after purchasing an additional 56,600 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Denny's by 63.5% during the first quarter. Envestnet Asset Management Inc. now owns 828,571 shares of the restaurant operator's stock valued at $3,041,000 after purchasing an additional 321,877 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Denny's by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 759,837 shares of the restaurant operator's stock valued at $4,597,000 after purchasing an additional 3,538 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

DENN has been the topic of several research reports. Benchmark dropped their price objective on shares of Denny's from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Piper Sandler set a $4.00 target price on shares of Denny's and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Oppenheimer reduced their price objective on shares of Denny's from $7.00 to $6.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Finally, Citigroup reduced their price objective on shares of Denny's from $7.00 to $6.25 and set a "buy" rating for the company in a research report on Thursday, April 24th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $6.46.

Denny's Price Performance

Shares of Denny's stock traded up $0.0550 on Wednesday, reaching $4.3350. 392,236 shares of the company traded hands, compared to its average volume of 1,048,283. Denny's Corporation has a 52 week low of $2.85 and a 52 week high of $7.73. The company has a 50 day moving average of $4.08 and a 200 day moving average of $4.16. The firm has a market capitalization of $223.25 million, a PE ratio of 14.02 and a beta of 1.70.

Denny's (NASDAQ:DENN - Get Free Report) last released its earnings results on Monday, August 4th. The restaurant operator reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). Denny's had a net margin of 3.53% and a negative return on equity of 59.51%. The company had revenue of $117.66 million for the quarter, compared to the consensus estimate of $118.14 million. During the same period in the prior year, the company earned $0.13 earnings per share. The firm's revenue was up 1.0% on a year-over-year basis. As a group, analysts anticipate that Denny's Corporation will post 0.5 earnings per share for the current year.

Denny's Company 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.