Goldman Sachs Group Inc. Has $1.05 Million Stake in Denny's Corporation $DENN

Key Points

• Goldman Sachs Group Inc. reduced its stake in Denny's Corporation by 78.4% in the first quarter, now owning 285,309 shares valued at $1,047,000.
• Denny's reported a Q2 EPS of $0.09, falling short of analyst expectations, with revenue of $117.66 million for the quarter.
• Analysts have mixed ratings on Denny's stock, with an average target price of $6.46 and five analysts rating it as a Buy.

Goldman Sachs Group Inc. lessened its stake in shares of Denny's Corporation (NASDAQ:DENN - Free Report) by 78.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 285,309 shares of the restaurant operator's stock after selling 1,037,428 shares during the quarter. Goldman Sachs Group Inc. owned about 0.56% of Denny's worth $1,047,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. XTX Topco Ltd increased its stake in shares of Denny's by 6.8% during the first quarter. XTX Topco Ltd now owns 40,763 shares of the restaurant operator's stock valued at $150,000 after acquiring an additional 2,601 shares during the period. CWM LLC grew its position in Denny's by 217.7% in the first quarter. CWM LLC now owns 6,725 shares of the restaurant operator's stock worth $25,000 after buying an additional 4,608 shares during the last quarter. North Star Investment Management Corp. grew its position in Denny's by 44.8% during the 1st quarter. North Star Investment Management Corp. now owns 21,000 shares of the restaurant operator's stock worth $77,000 after purchasing an additional 6,500 shares in the last quarter. Bank of New York Mellon Corp grew its position in Denny's by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 217,322 shares of the restaurant operator's stock worth $798,000 after purchasing an additional 8,159 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Denny's during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Denny's Stock Performance

Denny's stock traded up $0.13 during trading hours on Monday, hitting $5.15. 707,991 shares of the stock were exchanged, compared to its average volume of 863,271. The stock has a market capitalization of $265.23 million, a P/E ratio of 16.61 and a beta of 1.62. Denny's Corporation has a 12 month low of $2.85 and a 12 month high of $7.73. The business's 50-day moving average is $4.34 and its two-hundred day moving average is $4.05.

Denny's (NASDAQ:DENN - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The restaurant operator reported $0.09 EPS for the quarter, missing the consensus estimate 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 last year, the company earned $0.13 earnings per share. Denny's's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Denny's Corporation will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler set a $4.00 target price on shares of Denny's and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Benchmark cut their target price on shares of Denny's from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.