Robeco Institutional Asset Management B.V. acquired a new position in shares of Denny’s Corp (NASDAQ:DENN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 123,492 shares of the restaurant operator’s stock, valued at approximately $2,455,000. Robeco Institutional Asset Management B.V. owned about 0.21% of Denny’s at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC grew its stake in Denny’s by 206.8% in the 3rd quarter. Millennium Management LLC now owns 1,076,609 shares of the restaurant operator’s stock worth $24,509,000 after buying an additional 725,669 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in Denny’s during the 3rd quarter worth $5,694,000. California Public Employees Retirement System boosted its stake in Denny’s by 16.2% during the 3rd quarter. California Public Employees Retirement System now owns 252,729 shares of the restaurant operator’s stock worth $5,753,000 after purchasing an additional 35,180 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Denny’s by 2.7% during the third quarter. Stifel Financial Corp now owns 104,799 shares of the restaurant operator’s stock worth $2,386,000 after buying an additional 2,793 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Denny’s by 1.8% during the third quarter. Rhumbline Advisers now owns 88,360 shares of the restaurant operator’s stock worth $2,012,000 after buying an additional 1,529 shares in the last quarter. Institutional investors and hedge funds own 90.40% of the company’s stock.
In related news, VP Stephen C. Dunn sold 58,332 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $19.51, for a total value of $1,138,057.32. Following the completion of the sale, the vice president now directly owns 36,017 shares in the company, valued at approximately $702,691.67. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.10% of the stock is currently owned by insiders.
Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, February 11th. The restaurant operator reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.06. Denny’s had a negative return on equity of 35.85% and a net margin of 21.69%. The company had revenue of $113.84 million during the quarter, compared to the consensus estimate of $109.17 million. Analysts predict that Denny’s Corp will post 0.8 EPS for the current fiscal year.
Several equities analysts have recently weighed in on DENN shares. Oppenheimer reissued a “buy” rating and issued a $27.00 price target on shares of Denny’s in a research note on Tuesday, February 11th. TheStreet cut Denny’s from a “b-” rating to a “c+” rating in a research note on Wednesday, October 30th. Maxim Group raised shares of Denny’s from a “hold” rating to a “buy” rating and boosted their price objective for the company from $23.00 to $26.00 in a research note on Wednesday, December 4th. BidaskClub downgraded shares of Denny’s from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, ValuEngine cut shares of Denny’s from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Denny’s has an average rating of “Hold” and an average price target of $24.67.
Denny’s Company Profile
Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.
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