Wellington Management Group LLP Trims Position in Denny's Corporation $DENN

Key Points

• Wellington Management Group LLP reduced its stake in Denny's Corporation by 30.1%, owning approximately 1.09 million shares valued at about $3.99 million after selling 469,837 shares in Q1.
• Denny's stock has a market capitalization of $235.36 million and recently closed at $4.57, up 2.2% on the day.
• The company reported earnings of $0.09 per share for the latest quarter, missing analysts' estimates and reflecting a year-over-year revenue increase of 1.0%.

Wellington Management Group LLP cut its position in shares of Denny's Corporation (NASDAQ:DENN - Free Report) by 30.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,089,226 shares of the restaurant operator's stock after selling 469,837 shares during the quarter. Wellington Management Group LLP owned approximately 2.13% of Denny's worth $3,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Boston Partners lifted its position in shares of 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 buying an additional 855,192 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Denny's by 63.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 828,571 shares of the restaurant operator's stock valued at $3,041,000 after acquiring an additional 321,877 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in Denny's by 128.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 405,156 shares of the restaurant operator's stock valued at $2,451,000 after purchasing an additional 227,544 shares during the last quarter. Nuveen LLC purchased a new stake in Denny's during the first quarter valued at about $688,000. Finally, Skylands Capital LLC boosted its position in Denny's by 30.8% during the first quarter. Skylands Capital LLC now owns 745,620 shares of the restaurant operator's stock worth $2,736,000 after purchasing an additional 175,620 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Denny's Trading Up 2.1%

Shares of DENN stock traded up $0.10 during trading hours on Thursday, hitting $4.56. 115,216 shares of the company's stock were exchanged, compared to its average volume of 1,019,879. The company has a market capitalization of $234.58 million, a PE ratio of 14.66 and a beta of 1.63. The business's 50 day simple moving average is $4.14 and its 200-day simple moving average is $4.04. Denny's Corporation has a 12-month low of $2.85 and a 12-month high of $7.73.

Denny's (NASDAQ:DENN - Get Free Report) last announced its quarterly earnings data 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 net margin of 3.53% and a negative return on equity of 59.51%. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. Equities analysts anticipate that Denny's Corporation will post 0.5 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Benchmark lowered their price target on shares of Denny's from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Piper Sandler set a $4.00 price objective on shares of Denny's and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $6.46.

Denny's Company 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.