Arrowstreet Capital Limited Partnership Acquires 251,874 Shares of Denny's Co. (NASDAQ:DENN)

Arrowstreet Capital Limited Partnership increased its position in Denny's Co. (NASDAQ:DENN - Free Report) by 24.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,265,381 shares of the restaurant operator's stock after acquiring an additional 251,874 shares during the period. Arrowstreet Capital Limited Partnership owned about 2.47% of Denny's worth $7,656,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DENN. Boston Partners increased its holdings in shares of Denny's by 2,820.6% in the 4th quarter. Boston Partners now owns 1,665,893 shares of the restaurant operator's stock worth $10,081,000 after purchasing an additional 1,608,854 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Denny's by 19.7% in the 4th quarter. First Eagle Investment Management LLC now owns 1,665,680 shares of the restaurant operator's stock worth $10,077,000 after buying an additional 274,459 shares in the last quarter. Geode Capital Management LLC raised its position in Denny's by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator's stock worth $7,618,000 after buying an additional 3,902 shares during the last quarter. State Street Corp raised its position in Denny's by 0.3% in the 3rd quarter. State Street Corp now owns 1,175,986 shares of the restaurant operator's stock worth $7,585,000 after buying an additional 3,142 shares during the last quarter. Finally, Skylands Capital LLC lifted its stake in Denny's by 28.6% during the 4th quarter. Skylands Capital LLC now owns 570,000 shares of the restaurant operator's stock valued at $3,448,000 after acquiring an additional 126,850 shares during the period. 85.07% of the stock is owned by institutional investors.

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Insider Activity

In other news, EVP Stephen C. Dunn bought 9,815 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were bought at an average price of $5.08 per share, for a total transaction of $49,860.20. Following the purchase, the executive vice president now owns 113,666 shares in the company, valued at approximately $577,423.28. The trade was a 9.45 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kelli Valade purchased 9,700 shares of the company's stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of $5.13 per share, with a total value of $49,761.00. Following the completion of the transaction, the chief executive officer now owns 192,806 shares of the company's stock, valued at approximately $989,094.78. This trade represents a 5.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 20,465 shares of company stock valued at $104,457 in the last ninety days. Corporate insiders own 4.20% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on DENN. Citigroup decreased their price objective on shares of Denny's from $8.00 to $7.00 and set a "buy" rating for the company in a report on Thursday, February 13th. StockNews.com lowered shares of Denny's from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Oppenheimer dropped their price target on Denny's from $8.00 to $7.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Piper Sandler cut their price objective on Denny's from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Finally, Wedbush lowered their target price on Denny's from $10.00 to $8.50 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $7.75.

Denny's Stock Performance

Shares of Denny's stock traded down $0.11 on Friday, hitting $2.99. 1,049,586 shares of the company's stock were exchanged, compared to its average volume of 867,441. The stock has a market capitalization of $153.91 million, a PE ratio of 7.29 and a beta of 1.87. Denny's Co. has a 1 year low of $2.85 and a 1 year high of $8.55. The company has a 50-day simple moving average of $4.43 and a 200-day simple moving average of $5.65.

Denny's (NASDAQ:DENN - Get Free Report) last released its earnings results on Wednesday, February 12th. The restaurant operator reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny's had a net margin of 4.77% and a negative return on equity of 50.01%. On average, analysts expect that Denny's Co. will post 0.5 EPS for the current fiscal year.

Denny's 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.