ExodusPoint Capital Management LP Acquires Shares of 88,145 Denny's Co. (NASDAQ:DENN)

ExodusPoint Capital Management LP purchased a new position in shares of Denny's Co. (NASDAQ:DENN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 88,145 shares of the restaurant operator's stock, valued at approximately $533,000. ExodusPoint Capital Management LP owned about 0.17% of Denny's as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Boston Partners grew its holdings in shares of Denny's by 2,820.6% in the fourth quarter. Boston Partners now owns 1,665,893 shares of the restaurant operator's stock valued at $10,081,000 after acquiring an additional 1,608,854 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of Denny's by 19.7% during the 4th quarter. First Eagle Investment Management LLC now owns 1,665,680 shares of the restaurant operator's stock valued at $10,077,000 after purchasing an additional 274,459 shares during the last quarter. Wellington Management Group LLP grew its position in Denny's by 20.7% during the fourth quarter. Wellington Management Group LLP now owns 1,559,063 shares of the restaurant operator's stock valued at $9,432,000 after buying an additional 267,694 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Denny's by 24.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,265,381 shares of the restaurant operator's stock worth $7,656,000 after buying an additional 251,874 shares during the last quarter. Finally, Royce & Associates LP bought a new position in shares of Denny's during the 4th quarter valued at approximately $1,300,000. 85.07% of the stock is owned by institutional investors.

Remove Ads

Insider Transactions at Denny's

In other news, CEO Kelli Valade acquired 9,700 shares of the stock in a transaction dated Thursday, February 20th. The stock was purchased at an average cost of $5.13 per share, with a total value of $49,761.00. Following the completion of the purchase, the chief executive officer now owns 192,806 shares in the company, valued at approximately $989,094.78. The trade was a 5.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen C. Dunn bought 9,815 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average cost of $5.08 per share, for a total transaction of $49,860.20. Following the completion of the purchase, the executive vice president now directly owns 113,666 shares of the company's stock, valued at $577,423.28. The trade was a 9.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 20,465 shares of company stock worth $104,457. Insiders own 4.20% of the company's stock.

Denny's Stock Performance

Shares of DENN stock traded down $0.08 on Tuesday, hitting $3.01. 914,721 shares of the company's stock traded hands, compared to its average volume of 874,102. The stock has a market capitalization of $154.94 million, a price-to-earnings ratio of 7.34 and a beta of 1.87. The company's fifty day simple moving average is $4.36 and its 200 day simple moving average is $5.62. Denny's Co. has a one year low of $2.85 and a one year high of $8.50.

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 analysts' consensus estimates of $0.15 by ($0.01). Denny's had a net margin of 4.77% and a negative return on equity of 50.01%. As a group, sell-side analysts anticipate that Denny's Co. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.