Earnest Partners LLC Has $5.73 Million Stock Holdings in Denny's Corporation $DENN

Key Points

• Earnest Partners LLC increased its stake in Denny's Corporation by 16.2%, now holding approximately 1.56 million shares valued at $5.73 million.
• Several hedge funds have boosted their positions in Denny's, with Boston Partners raising its ownership by 51.3%, now owning over 2.52 million shares worth $9.25 million.
• Denny's reported earnings of $0.09 per share for the last quarter, slightly missing analyst expectations, and had revenue of $117.66 million compared to predictions of $118.14 million.

Earnest Partners LLC raised its stake in Denny's Corporation (NASDAQ:DENN - Free Report) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,561,053 shares of the restaurant operator's stock after buying an additional 218,019 shares during the period. Earnest Partners LLC owned 3.05% of Denny's worth $5,729,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Boston Partners boosted its position in Denny's by 51.3% in the first quarter. Boston Partners now owns 2,521,085 shares of the restaurant operator's stock valued at $9,250,000 after buying an additional 855,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake 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 valued at $6,129,000 after purchasing an additional 81,550 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Denny's by 20.7% during the fourth quarter. Wellington Management Group LLP now owns 1,559,063 shares of the restaurant operator's stock valued at $9,432,000 after purchasing an additional 267,694 shares in the last quarter. Olstein Capital Management L.P. boosted its stake in shares of Denny's by 6.2% during the first 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 in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Denny's by 63.5% during the first quarter. Envestnet Asset Management Inc. now owns 828,571 shares of the restaurant operator's stock valued at $3,041,000 after purchasing an additional 321,877 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Ratings Changes

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

Denny's Stock Performance

Shares of DENN stock traded up $0.10 on Monday, hitting $4.57. The company had a trading volume of 605,690 shares, compared to its average volume of 695,242. The firm has a market cap of $235.36 million, a P/E ratio of 14.74 and a beta of 1.62. The stock's 50-day moving average is $4.12 and its two-hundred day moving average is $4.04. 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 issued its quarterly earnings results on Monday, August 4th. The restaurant operator reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $117.66 million during the quarter, compared to analyst estimates of $118.14 million. Denny's had a net margin of 3.53% and a negative return on equity of 59.51%. The company's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. Equities research analysts predict that Denny's Corporation will post 0.5 EPS for the current year.

Denny's Profile

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.