New York Life Investment Management LLC Buys 4,368 Shares of Denny’s Co. (NASDAQ:DENN)

Posted by on Jun 6th, 2023

New York Life Investment Management LLC increased its stake in Denny’s Co. (NASDAQ:DENN – Get Rating) by 12.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,539 shares of the restaurant operator’s stock after acquiring an additional 4,368 shares during the quarter. New York Life Investment Management LLC owned 0.07% of Denny’s worth $364,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its stake in shares of Denny’s by 26.9% in the 4th quarter. Advisor Group Holdings Inc. now owns 23,156 shares of the restaurant operator’s stock valued at $213,000 after acquiring an additional 4,904 shares in the last quarter. MQS Management LLC bought a new stake in Denny’s during the 4th quarter valued at $131,000. Dimensional Fund Advisors LP increased its stake in Denny’s by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,228,863 shares of the restaurant operator’s stock valued at $11,318,000 after purchasing an additional 109,466 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Denny’s by 51.0% during the 4th quarter. First Eagle Investment Management LLC now owns 407,310 shares of the restaurant operator’s stock valued at $3,751,000 after purchasing an additional 137,632 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in Denny’s by 3.6% during the 4th quarter. HighTower Advisors LLC now owns 24,763 shares of the restaurant operator’s stock valued at $229,000 after purchasing an additional 855 shares in the last quarter. Institutional investors own 90.65% of the company’s stock.

Denny’s Price Performance

DENN opened at $11.65 on Tuesday. The company has a market capitalization of $652.87 million, a price-to-earnings ratio of 13.09, a P/E/G ratio of 2.15 and a beta of 1.70. The firm’s fifty day moving average price is $11.09 and its two-hundred day moving average price is $11.25. Denny’s Co. has a 1 year low of $8.46 and a 1 year high of $13.13.

Denny’s (NASDAQ:DENN – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The restaurant operator reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The company had revenue of $117.47 million during the quarter, compared to analysts’ expectations of $114.47 million. Denny’s had a negative return on equity of 69.18% and a net margin of 11.35%. Denny’s’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. As a group, equities analysts anticipate that Denny’s Co. will post 0.61 EPS for the current year.

Wall Street Analysts Forecast Growth

DENN has been the subject of a number of recent research reports. Wedbush boosted their price target on shares of Denny’s from $12.50 to $13.50 and gave the company a “neutral” rating in a research note on Tuesday, February 14th. Benchmark restated a “buy” rating and set a $17.00 price target on shares of Denny’s in a research note on Monday, April 10th. StockNews.com initiated coverage on shares of Denny’s in a research note on Thursday, May 18th. They set a “hold” rating for the company. CL King boosted their price target on shares of Denny’s from $14.00 to $15.00 in a research note on Tuesday, February 14th. Finally, Citigroup cut their price objective on shares of Denny’s from $13.00 to $12.00 in a report on Thursday, April 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.70.

Denny’s Profile

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Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny’s and Keke’s segments. The Denny’s segment includes franchised and licensed Denny’s restaurants. The Keke’s segment refers to the other company and franchise restaurants. The company was founded by Harold Butler and Richard Jezak in 1953 and is headquartered in Spartanburg, SC.

Further Reading

Institutional Ownership by Quarter for Denny's (NASDAQ:DENN)

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