Russell Investments Group Ltd. increased its holdings in Denny's Co. (NASDAQ:DENN - Free Report) by 75.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 222,943 shares of the restaurant operator's stock after acquiring an additional 96,002 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.42% of Denny's worth $2,426,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Corton Capital Inc. bought a new position in Denny's in the third quarter worth about $89,000. Jump Financial LLC purchased a new stake in shares of Denny's during the 3rd quarter valued at $122,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Denny's by 45.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,403 shares of the restaurant operator's stock worth $130,000 after buying an additional 4,843 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in Denny's in the third quarter valued at about $150,000. Finally, Principal Financial Group Inc. boosted its holdings in Denny's by 29.7% in the third quarter. Principal Financial Group Inc. now owns 18,482 shares of the restaurant operator's stock worth $157,000 after acquiring an additional 4,233 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently commented on DENN shares. StockNews.com lowered shares of Denny's from a "buy" rating to a "hold" rating in a research report on Thursday, May 2nd. Truist Financial cut their price objective on Denny's from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Wednesday, February 14th. Wedbush decreased their target price on Denny's from $10.50 to $9.50 and set a "neutral" rating for the company in a report on Friday, April 26th. Oppenheimer reduced their price target on shares of Denny's from $12.00 to $11.00 and set an "outperform" rating for the company in a research report on Wednesday, May 1st. Finally, Benchmark reaffirmed a "buy" rating and issued a $15.00 price objective on shares of Denny's in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $11.42.
View Our Latest Stock Analysis on DENN
Insider Buying and Selling
In other Denny's news, Director John C. Miller sold 35,359 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $9.25, for a total transaction of $327,070.75. Following the transaction, the director now directly owns 740,626 shares of the company's stock, valued at $6,850,790.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.20% of the stock is owned by insiders.
Denny's Stock Performance
Shares of DENN stock remained flat at $8.17 during mid-day trading on Wednesday. 297,452 shares of the stock traded hands, compared to its average volume of 500,826. Denny's Co. has a twelve month low of $7.82 and a twelve month high of $12.53. The company has a market capitalization of $425.00 million, a P/E ratio of 19.00, a PEG ratio of 1.50 and a beta of 1.94. The stock's 50-day moving average price is $8.52 and its two-hundred day moving average price is $9.47.
Denny's (NASDAQ:DENN - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The restaurant operator reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). The business had revenue of $109.97 million during the quarter, compared to analyst estimates of $115.17 million. Denny's had a net margin of 5.27% and a negative return on equity of 63.27%. The firm's revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 earnings per share. On average, equities research analysts anticipate that Denny's Co. will post 0.6 EPS for the current fiscal year.
Denny's Profile
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Free Report)
Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.
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