Denny's Corporation (NASDAQ:DENN) Shares Bought by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in Denny's Corporation by 45.2% during Q1, owning 312,004 shares valued at about $1.15 million.
• Several institutional investors raised their positions in Denny's, with Russell Investments boosting its holdings by 99.7% and D. E. Shaw increasing by 128.1% in Q4.
• Denny's recently reported earnings matching estimates with $0.08 EPS, while revenues grew by 1.5% year-over-year to $111.64 million.

Royce & Associates LP grew its holdings in Denny's Corporation (NASDAQ:DENN - Free Report) by 45.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 312,004 shares of the restaurant operator's stock after acquiring an additional 97,117 shares during the period. Royce & Associates LP owned about 0.61% of Denny's worth $1,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Russell Investments Group Ltd. increased its holdings in Denny's by 99.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,138,473 shares of the restaurant operator's stock valued at $6,888,000 after purchasing an additional 568,266 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Denny's by 63.5% in the first quarter. Envestnet Asset Management Inc. now owns 828,571 shares of the restaurant operator's stock valued at $3,041,000 after buying an additional 321,877 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Denny's by 20.7% during 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. Arrowstreet Capital Limited Partnership lifted its position in Denny's by 24.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,265,381 shares of the restaurant operator's stock worth $7,656,000 after acquiring an additional 251,874 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings 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 acquiring an additional 227,544 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

DENN has been the topic of a number of analyst reports. Citigroup dropped their price objective on shares of Denny's from $7.00 to $6.25 and set a "buy" rating on the stock in a research note on Thursday, April 24th. 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Denny's currently has an average rating of "Moderate Buy" and an average price target of $7.46.

Denny's Trading Down 2.1%

DENN stock opened at $4.10 on Tuesday. The firm has a 50 day simple moving average of $4.11 and a 200-day simple moving average of $4.40. The company has a market capitalization of $210.13 million, a P/E ratio of 12.42 and a beta of 1.65. Denny's Corporation has a twelve month low of $2.85 and a twelve month high of $7.73.

Denny's (NASDAQ:DENN - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The restaurant operator reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $111.64 million during the quarter, compared to analyst estimates of $110.11 million. Denny's had a net margin of 3.79% and a negative return on equity of 57.90%. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. On average, research analysts predict that Denny's Corporation will post 0.5 EPS for the current 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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