Hotchkis & Wiley Capital Management LLC Buys 81,550 Shares of Denny's Corporation $DENN

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Denny's Corporation by 5.1%, owning approximately 3.26% of the company after acquiring additional shares.
• Analysts have lowered their price targets for Denny's, with Benchmark reducing it from $8.00 to $6.00, while the company currently holds a consensus rating of "Moderate Buy" and an average price target of $6.46.
• Denny's reported a quarterly EPS of $0.09, missing expectations, with revenues of $117.66 million, reflecting a 1.0% year-over-year increase.

Hotchkis & Wiley Capital Management LLC boosted its stake in Denny's Corporation (NASDAQ:DENN - Free Report) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,670,070 shares of the restaurant operator's stock after purchasing an additional 81,550 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 3.26% of Denny's worth $6,129,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DENN. Boston Partners grew its position in Denny's by 51.3% in the 1st quarter. Boston Partners now owns 2,521,085 shares of the restaurant operator's stock worth $9,250,000 after purchasing an additional 855,192 shares during the period. Envestnet Asset Management Inc. grew its position in Denny's by 63.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 828,571 shares of the restaurant operator's stock worth $3,041,000 after purchasing an additional 321,877 shares during the period. Wellington Management Group LLP grew its position in Denny's by 20.7% in the 4th quarter. Wellington Management Group LLP now owns 1,559,063 shares of the restaurant operator's stock worth $9,432,000 after purchasing an additional 267,694 shares during the period. D. E. Shaw & Co. Inc. grew its position in Denny's by 128.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 405,156 shares of the restaurant operator's stock worth $2,451,000 after purchasing an additional 227,544 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Denny's during the 1st quarter worth $688,000. Institutional investors own 85.07% of the company's stock.

Denny's Trading Down 0.2%

Shares of DENN traded down $0.01 during trading hours on Thursday, reaching $4.47. 580,213 shares of the stock traded hands, compared to its average volume of 701,547. Denny's Corporation has a 52-week low of $2.85 and a 52-week high of $7.73. The company's 50-day moving average price is $4.11 and its two-hundred day moving average price is $4.07. The company has a market cap of $230.21 million, a P/E ratio of 14.42 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 firm had revenue of $117.66 million for the quarter, compared to analysts' expectations of $118.14 million. During the same quarter last year, the firm posted $0.13 EPS. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts forecast that Denny's Corporation will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Oppenheimer dropped their price target on shares of Denny's from $7.00 to $6.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Benchmark dropped their price target on shares of Denny's from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Finally, Piper Sandler set a $4.00 price target on shares of Denny's and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Denny's currently has an average rating of "Moderate Buy" and a consensus price target of $6.46.

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.