ExodusPoint Capital Management LP acquired a new position in shares of Denny’s Co. (NASDAQ:DENN – Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 57,406 shares of the restaurant operator’s stock, valued at approximately $641,000. ExodusPoint Capital Management LP owned about 0.10% of Denny’s at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in Denny’s by 2.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,651,380 shares of the restaurant operator’s stock worth $85,389,000 after purchasing an additional 180,405 shares during the last quarter. Vanguard Group Inc. lifted its stake in Denny’s by 0.8% during the first quarter. Vanguard Group Inc. now owns 3,186,493 shares of the restaurant operator’s stock worth $45,599,000 after purchasing an additional 26,750 shares during the last quarter. Invesco Ltd. lifted its stake in Denny’s by 1.4% during the first quarter. Invesco Ltd. now owns 2,192,002 shares of the restaurant operator’s stock worth $31,368,000 after purchasing an additional 30,627 shares during the last quarter. Bank of America Corp DE lifted its stake in Denny’s by 152.0% in the fourth quarter. Bank of America Corp DE now owns 2,166,947 shares of the restaurant operator’s stock valued at $19,958,000 after buying an additional 1,306,913 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Denny’s by 57.0% in the fourth quarter. Millennium Management LLC now owns 1,407,016 shares of the restaurant operator’s stock valued at $12,959,000 after buying an additional 510,696 shares during the last quarter. 84.50% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. StockNews.com assumed coverage on Denny’s in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Wedbush reissued a “neutral” rating and issued a $12.00 target price on shares of Denny’s in a report on Friday, July 28th. Piper Sandler started coverage on Denny’s in a research report on Monday, July 17th. They issued a “neutral” rating and a $12.00 price objective on the stock. Benchmark reduced their target price on Denny’s from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Finally, Truist Financial cut their price objective on Denny’s from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Denny’s currently has a consensus rating of “Hold” and a consensus target price of $13.50.
Denny’s Price Performance
NASDAQ:DENN opened at $9.17 on Thursday. Denny’s Co. has a 12-month low of $8.66 and a 12-month high of $13.13. The firm has a market capitalization of $508.94 million, a P/E ratio of 13.78, a P/E/G ratio of 1.75 and a beta of 1.74. The business has a 50 day simple moving average of $10.78 and a 200 day simple moving average of $11.13.
Denny’s (NASDAQ:DENN – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). Denny’s had a negative return on equity of 78.77% and a net margin of 8.25%. The business had revenue of $116.92 million for the quarter, compared to analyst estimates of $120.65 million. During the same quarter last year, the firm posted $0.11 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. Research analysts anticipate that Denny’s Co. will post 0.6 EPS for the current fiscal year.
Insider Activity
In related news, Director John C. Miller sold 6,583 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $9.50, for a total transaction of $62,538.50. Following the transaction, the director now directly owns 963,634 shares of the company’s stock, valued at $9,154,523. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Denny’s news, Director John C. Miller sold 6,583 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $9.50, for a total value of $62,538.50. Following the completion of the transaction, the director now owns 963,634 shares of the company’s stock, valued at approximately $9,154,523. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John C. Miller sold 7,909 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $10.51, for a total value of $83,123.59. Following the completion of the transaction, the director now directly owns 970,217 shares of the company’s stock, valued at approximately $10,196,980.67. The disclosure for this sale can be found here. Insiders sold a total of 39,492 shares of company stock worth $386,162 over the last 90 days. 5.80% of the stock is currently owned by company insiders.
Denny’s Profile
Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brand in the United States and internationally. The company operates in two segments: Denny's and Other. 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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