Denny's Corporation $DENN Stake Increased by North Star Investment Management Corp.

Key Points

• North Star Investment Management Corp. significantly increased its stake in Denny's Corporation by 1,196.7% in Q2, acquiring 251,300 additional shares and now holding 272,300 shares valued at approximately $1.12 million.
• Several hedge funds also boosted their investments in Denny's, with Boston Partners increasing its stake by 51.3%, now owning over 2.5 million shares worth about $9.25 million.
• Denny's reported a quarterly earnings miss with $0.09 EPS compared to $0.10 estimated, and a revenue of $117.66 million, below the anticipated $118.14 million.

North Star Investment Management Corp. increased its holdings in shares of Denny's Corporation (NASDAQ:DENN - Free Report) by 1,196.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,300 shares of the restaurant operator's stock after buying an additional 251,300 shares during the quarter. North Star Investment Management Corp. owned 0.53% of Denny's worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Boston Partners grew its stake in Denny's by 51.3% during the 1st quarter. Boston Partners now owns 2,521,085 shares of the restaurant operator's stock valued at $9,250,000 after acquiring an additional 855,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Denny's by 5.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,670,070 shares of the restaurant operator's stock worth $6,129,000 after purchasing an additional 81,550 shares during the period. Earnest Partners LLC grew its position in Denny's by 16.2% during the first quarter. Earnest Partners LLC now owns 1,561,053 shares of the restaurant operator's stock valued at $5,729,000 after purchasing an additional 218,019 shares in the last quarter. Wellington Management Group LLP increased its stake 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 valued at $9,432,000 after buying an additional 267,694 shares during the period. Finally, Olstein Capital Management L.P. increased its stake in Denny's by 6.2% in the 1st quarter. Olstein Capital Management L.P. now owns 973,000 shares of the restaurant operator's stock valued at $3,571,000 after buying an additional 56,600 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on DENN. Piper Sandler set a $4.00 price target on shares of Denny's and gave the company a "neutral" rating in a report on Tuesday, August 5th. Benchmark reduced their price objective on 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Denny's has an average rating of "Moderate Buy" and a consensus price target of $6.46.

Denny's Trading Down 0.6%

DENN stock opened at $5.34 on Friday. The firm has a market cap of $275.01 million, a PE ratio of 17.23 and a beta of 1.63. Denny's Corporation has a 1 year low of $2.85 and a 1 year high of $7.73. The company has a fifty day simple moving average of $4.43 and a 200 day simple moving average of $4.08.

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

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.

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