Verition Fund Management LLC Decreases Position in Denny's Co. (NASDAQ:DENN)

Verition Fund Management LLC lessened its holdings in Denny's Co. (NASDAQ:DENN - Free Report) by 40.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 184,519 shares of the restaurant operator's stock after selling 126,051 shares during the period. Verition Fund Management LLC owned approximately 0.36% of Denny's worth $1,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of DENN. The Manufacturers Life Insurance Company raised its holdings in Denny's by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,130 shares of the restaurant operator's stock valued at $150,000 after buying an additional 1,694 shares during the period. Creative Planning lifted its holdings in shares of Denny's by 6.4% in the 3rd quarter. Creative Planning now owns 37,669 shares of the restaurant operator's stock worth $243,000 after acquiring an additional 2,273 shares during the last quarter. Quarry LP lifted its holdings in shares of Denny's by 161.5% in the 2nd quarter. Quarry LP now owns 4,237 shares of the restaurant operator's stock worth $30,000 after acquiring an additional 2,617 shares during the last quarter. Rice Hall James & Associates LLC boosted its position in shares of Denny's by 3.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 76,010 shares of the restaurant operator's stock worth $540,000 after purchasing an additional 2,775 shares during the period. Finally, CWM LLC increased its holdings in Denny's by 726.2% in the 2nd quarter. CWM LLC now owns 3,685 shares of the restaurant operator's stock valued at $26,000 after purchasing an additional 3,239 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Denny's Trading Down 0.2 %

DENN traded down $0.01 on Friday, hitting $6.27. 667,130 shares of the company were exchanged, compared to its average volume of 679,644. The firm has a 50-day moving average price of $6.46 and a two-hundred day moving average price of $6.59. Denny's Co. has a twelve month low of $5.37 and a twelve month high of $11.16. The company has a market cap of $321.84 million, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 1.33 and a beta of 2.01.

Denny's (NASDAQ:DENN - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The company had revenue of $111.76 million for the quarter, compared to analyst estimates of $115.46 million. Denny's had a negative return on equity of 48.64% and a net margin of 3.90%. The business's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share. Equities analysts expect that Denny's Co. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DENN. Citigroup upgraded Denny's from a "neutral" rating to a "buy" rating and upped their price target for the stock from $7.00 to $7.50 in a research note on Friday, October 25th. Truist Financial decreased their target price on Denny's from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Monday, October 28th. StockNews.com downgraded Denny's from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Benchmark cut their price target on shares of Denny's from $15.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Finally, Oppenheimer lowered their price objective on shares of Denny's from $10.00 to $7.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $7.70.

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 brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.