JCP Investment Management LLC Purchases Shares of 829,491 Denny’s Corporation $DENN

JCP Investment Management LLC purchased a new stake in Denny’s Corporation (NASDAQ:DENN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 829,491 shares of the restaurant operator’s stock, valued at approximately $4,338,000. Denny’s accounts for about 2.8% of JCP Investment Management LLC’s holdings, making the stock its 10th largest position. JCP Investment Management LLC owned 1.61% of Denny’s as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DENN. Alliancebernstein L.P. increased its position in Denny’s by 9.3% during the 3rd quarter. Alliancebernstein L.P. now owns 77,792 shares of the restaurant operator’s stock valued at $407,000 after purchasing an additional 6,600 shares during the period. Brooklyn Investment Group lifted its position in shares of Denny’s by 221.3% in the 3rd quarter. Brooklyn Investment Group now owns 13,606 shares of the restaurant operator’s stock worth $71,000 after purchasing an additional 9,371 shares during the period. Aristides Capital LLC bought a new stake in shares of Denny’s in the 3rd quarter valued at $366,000. Sei Investments Co. increased its position in shares of Denny’s by 1.0% during the third quarter. Sei Investments Co. now owns 215,593 shares of the restaurant operator’s stock worth $1,128,000 after buying an additional 2,034 shares during the period. Finally, UBS Group AG increased its position in shares of Denny’s by 13.6% during the third quarter. UBS Group AG now owns 286,271 shares of the restaurant operator’s stock worth $1,497,000 after buying an additional 34,287 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Denny’s in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.54.

Denny’s Price Performance

NASDAQ DENN opened at $6.25 on Monday. The stock has a market capitalization of $321.87 million, a P/E ratio of 31.25 and a beta of 1.37. The business has a 50 day simple moving average of $6.25 and a 200 day simple moving average of $5.78. Denny’s Corporation has a one year low of $2.85 and a one year high of $7.66.

Denny’s Company Profile

Denny’s Corporation operates one of the largest full-service, family‐style restaurant chains in the United States, specializing in classic American diner fare. The company’s menu features breakfast, lunch and dinner offerings served around the clock, with signature items such as the Grand Slam breakfast, burgers, sandwiches and a variety of savory skillets. As a publicly traded entity under the symbol DENN on NASDAQ, Denny’s focuses on providing an accessible dining experience for a broad customer base, including families, travelers and late‐night diners.

The company’s business model combines both franchised and company‐owned locations.