Cadence Capital Management LLC raised its stake in Denny’s Corp (NASDAQ:DENN) by 20.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 189,233 shares of the restaurant operator’s stock after acquiring an additional 31,687 shares during the period. Cadence Capital Management LLC owned approximately 0.30% of Denny’s worth $2,786,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in DENN. Principal Financial Group Inc. bought a new stake in Denny’s in the 1st quarter valued at $177,000. Millennium Management LLC increased its holdings in Denny’s by 420.0% in the 1st quarter. Millennium Management LLC now owns 295,249 shares of the restaurant operator’s stock valued at $4,556,000 after acquiring an additional 238,474 shares during the last quarter. Royal Bank of Canada increased its holdings in Denny’s by 27.0% in the 1st quarter. Royal Bank of Canada now owns 35,866 shares of the restaurant operator’s stock valued at $554,000 after acquiring an additional 7,628 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in Denny’s in the 2nd quarter valued at $300,000. Finally, Acadian Asset Management LLC increased its holdings in Denny’s by 222.9% in the 2nd quarter. Acadian Asset Management LLC now owns 285,345 shares of the restaurant operator’s stock valued at $4,544,000 after acquiring an additional 196,986 shares during the last quarter. Institutional investors own 89.89% of the company’s stock.
Denny’s stock opened at $16.93 on Wednesday. Denny’s Corp has a twelve month low of $12.09 and a twelve month high of $18.16. The stock has a market capitalization of $1.05 billion, a PE ratio of 24.62 and a beta of 0.14.
Denny’s (NASDAQ:DENN) last posted its earnings results on Tuesday, October 30th. The restaurant operator reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Denny’s had a negative return on equity of 40.31% and a net margin of 7.48%. The business had revenue of $158.00 million during the quarter, compared to the consensus estimate of $159.28 million. During the same quarter last year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was up 19.3% on a year-over-year basis. On average, research analysts anticipate that Denny’s Corp will post 0.68 earnings per share for the current year.
DENN has been the topic of a number of research reports. BidaskClub downgraded shares of Denny’s from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 11th. Wedbush reduced their price target on shares of Denny’s from $18.50 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Denny’s from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. ValuEngine downgraded shares of Denny’s from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, Stephens downgraded shares of Denny’s from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $18.00 to $16.50 in a report on Wednesday, September 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.33.
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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 27, 2017, it had 1,735 franchised, licensed, and company restaurants worldwide, including 128 restaurants in Canada, Puerto Rico, Mexico, New Zealand, Honduras, the Philippines, Costa Rica, Dominican Republic, the United Arab Emirates, Guam, Curaçao, El Salvador, Guatemala, and the United Kingdom.
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