Envestnet Asset Management Inc. Purchases 321,877 Shares of Denny's Corporation (NASDAQ:DENN)

Key Points

• Envestnet Asset Management Inc. increased its holdings in Denny's Corporation by 63.5%, owning roughly 1.61% of the company after acquiring an additional 321,877 shares in the first quarter.
• Denny's stock price has seen a 0.9% decline recently, with shares opening at $4.19 and a market cap of about $214.74 million.
• The company reported $111.64 million in revenue for the last quarter, surpassing analysts' expectations, and earnings per share met consensus estimates at $0.08.

Envestnet Asset Management Inc. grew its holdings in Denny's Corporation (NASDAQ:DENN - Free Report) by 63.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 828,571 shares of the restaurant operator's stock after acquiring an additional 321,877 shares during the period. Envestnet Asset Management Inc. owned 1.61% of Denny's worth $3,041,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of 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 valued at $798,000 after purchasing an additional 8,159 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of Denny's during the 1st quarter valued at $60,000. Skylands Capital LLC raised its position in shares of Denny's by 30.8% during the 1st quarter. Skylands Capital LLC now owns 745,620 shares of the restaurant operator's stock valued at $2,736,000 after purchasing an additional 175,620 shares during the period. North Star Investment Management Corp. raised its position in shares of 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 valued at $77,000 after purchasing an additional 6,500 shares during the period. Finally, Olstein Capital Management L.P. raised its position in shares of Denny's by 6.2% during 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 purchasing an additional 56,600 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on DENN. Oppenheimer reduced their price target on shares of Denny's from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Citigroup reduced their price target on shares of Denny's from $7.00 to $6.25 and set a "buy" rating on the stock in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $7.46.

Denny's Price Performance

Shares of Denny's stock traded down $0.17 during trading hours on Tuesday, reaching $3.93. The company's stock had a trading volume of 397,255 shares, compared to its average volume of 1,087,222. The firm has a 50 day moving average price of $4.11 and a 200-day moving average price of $4.40. Denny's Corporation has a one year low of $2.85 and a one year high of $7.73. The stock has a market cap of $201.41 million, a P/E ratio of 11.91 and a beta of 1.65.

Denny's (NASDAQ:DENN - Get Free Report) last posted its earnings results on Monday, May 5th. The restaurant operator reported $0.08 earnings per share for the quarter, hitting analysts' consensus estimates of $0.08. Denny's had a net margin of 3.79% and a negative return on equity of 57.90%. The firm had revenue of $111.64 million for the quarter, compared to the consensus estimate of $110.11 million. During the same period in the previous year, the firm posted $0.11 EPS. The business's quarterly revenue was up 1.5% on a year-over-year basis. As a group, sell-side 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.