Mork Capital Management LLC Increases Stake in Denny's Corporation $DENN

Key Points

• Mork Capital Management LLC raised its position in Denny's Corporation by 142.9%, acquiring an additional 100,000 shares, which brought their total to 170,000 shares worth approximately $624,000.
• Following the recent quarterly earnings report, Denny's missed analysts' expectations, reporting $0.09 EPS against the estimated $0.10, and revenue of $117.66 million, slightly below the forecast of $118.14 million.
• Analysts are mixed on Denny's stock, with a current average rating of "Moderate Buy" and a target price of $6.46, despite Benchmark reducing their price objective from $8.00 to $6.00.

Mork Capital Management LLC boosted its position in shares of Denny's Corporation (NASDAQ:DENN - Free Report) by 142.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 170,000 shares of the restaurant operator's stock after buying an additional 100,000 shares during the quarter. Mork Capital Management LLC owned approximately 0.33% of Denny's worth $624,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in DENN. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Denny's in the 1st quarter worth about $368,000. AQR Capital Management LLC increased its holdings in Denny's by 116.0% in the 1st quarter. AQR Capital Management LLC now owns 365,159 shares of the restaurant operator's stock worth $1,340,000 after acquiring an additional 196,118 shares in the last quarter. State of Wyoming grew its holdings in Denny's by 55.1% during the 1st quarter. State of Wyoming now owns 38,949 shares of the restaurant operator's stock valued at $143,000 after buying an additional 13,841 shares in the last quarter. Earnest Partners LLC grew its holdings in Denny's by 16.2% during the 1st quarter. Earnest Partners LLC now owns 1,561,053 shares of the restaurant operator's stock valued at $5,729,000 after buying an additional 218,019 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Denny's by 5.1% in 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. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on DENN. Piper Sandler set a $4.00 target price on shares of Denny's and gave the company a "neutral" rating in a report on Tuesday, August 5th. Benchmark decreased their target price 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 given a Hold rating to the company. Based on data from MarketBeat, Denny's presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.46.

Denny's Stock Up 5.0%

Shares of DENN traded up $0.25 during mid-day trading on Thursday, hitting $5.17. 546,649 shares of the company traded hands, compared to its average volume of 1,026,894. Denny's Corporation has a 1-year low of $2.85 and a 1-year high of $7.73. The business has a 50 day moving average of $4.20 and a 200 day moving average of $4.03. The company has a market capitalization of $266.00 million, a PE ratio of 16.66 and a beta of 1.63.

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). Denny's had a negative return on equity of 59.51% and a net margin of 3.53%.The business had revenue of $117.66 million during the quarter, compared to analyst estimates of $118.14 million. During the same quarter last year, the company posted $0.13 EPS. Denny's's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, research analysts expect 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.