Royce & Associates LP purchased a new position in shares of Denny's Co. (NASDAQ:DENN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 214,887 shares of the restaurant operator's stock, valued at approximately $1,300,000. Royce & Associates LP owned about 0.42% of Denny's at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Denny's by 95.2% in the 3rd quarter. FMR LLC now owns 12,239 shares of the restaurant operator's stock valued at $79,000 after acquiring an additional 5,970 shares during the period. Intech Investment Management LLC acquired a new position in Denny's during the 3rd quarter worth about $83,000. SG Americas Securities LLC boosted its holdings in Denny's by 25.3% during the 4th quarter. SG Americas Securities LLC now owns 23,272 shares of the restaurant operator's stock valued at $141,000 after acquiring an additional 4,704 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Denny's in the 3rd quarter valued at about $193,000. Finally, JPMorgan Chase & Co. increased its stake in Denny's by 244.0% during the third quarter. JPMorgan Chase & Co. now owns 75,797 shares of the restaurant operator's stock worth $489,000 after purchasing an additional 53,763 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.
Insider Activity
In other news, EVP Stephen C. Dunn acquired 9,815 shares of Denny's stock in a transaction on Wednesday, February 26th. The stock was bought at an average price of $5.08 per share, for a total transaction of $49,860.20. Following the completion of the purchase, the executive vice president now owns 113,666 shares in the company, valued at $577,423.28. This represents a 9.45 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kelli Valade acquired 9,700 shares of the stock in a transaction on Thursday, February 20th. The shares were acquired at an average cost of $5.13 per share, for a total transaction of $49,761.00. Following the completion of the transaction, the chief executive officer now directly owns 192,806 shares in the company, valued at $989,094.78. The trade was a 5.30 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 20,465 shares of company stock valued at $104,457. Insiders own 4.20% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on DENN shares. Oppenheimer cut their target price on shares of Denny's from $8.00 to $7.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Citigroup reduced their price objective on Denny's from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. StockNews.com cut Denny's from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Piper Sandler reduced their price target on Denny's from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 18th. Finally, Wedbush lowered their price objective on Denny's from $10.00 to $8.50 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $7.75.
Check Out Our Latest Report on Denny's
Denny's Stock Down 0.8 %
Denny's stock traded down $0.03 during mid-day trading on Tuesday, hitting $3.95. The company had a trading volume of 1,794,955 shares, compared to its average volume of 792,916. Denny's Co. has a 1 year low of $3.80 and a 1 year high of $9.25. The business has a fifty day moving average of $5.30 and a 200 day moving average of $5.96. The stock has a market cap of $203.86 million, a price-to-earnings ratio of 9.63 and a beta of 2.08.
Denny's (NASDAQ:DENN - Get Free Report) last posted its earnings results on Wednesday, February 12th. The restaurant operator reported $0.14 EPS 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%. Equities analysts anticipate that Denny's Co. will post 0.5 earnings per share for the current year.
Denny's Profile
(
Free Report)
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.
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