Chartwell Investment Partners LLC Raises Stock Holdings in Denny’s Co. (NASDAQ:DENN)

Chartwell Investment Partners LLC raised its position in shares of Denny’s Co. (NASDAQ:DENN) by 0.9% in the first quarter, Holdings Channel.com reports. The fund owned 1,086,055 shares of the restaurant operator’s stock after acquiring an additional 9,572 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Denny’s were worth $19,668,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DENN. FMR LLC raised its holdings in shares of Denny’s by 102.6% during the first quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock valued at $43,874,000 after acquiring an additional 1,211,020 shares during the last quarter. North Star Investment Management Corp. raised its holdings in shares of Denny’s by 34.0% during the fourth quarter. North Star Investment Management Corp. now owns 167,075 shares of the restaurant operator’s stock valued at $2,453,000 after acquiring an additional 42,425 shares during the last quarter. Deltec Asset Management LLC acquired a new position in shares of Denny’s during the fourth quarter valued at approximately $1,468,000. Schafer Cullen Capital Management Inc acquired a new position in shares of Denny’s during the fourth quarter valued at approximately $451,000. Finally, Cullen Capital Management LLC acquired a new position in shares of Denny’s during the fourth quarter valued at approximately $276,000. 80.01% of the stock is owned by institutional investors and hedge funds.

In other news, CAO Jay C. Gilmore sold 3,300 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $19.81, for a total transaction of $65,373.00. Following the completion of the transaction, the chief accounting officer now directly owns 87,672 shares in the company, valued at $1,736,782.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP John William Dillon sold 20,914 shares of the firm’s stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $17.82, for a total value of $372,687.48. Following the transaction, the executive vice president now owns 70,639 shares of the company’s stock, valued at $1,258,786.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,774 shares of company stock valued at $566,964. Company insiders own 6.10% of the company’s stock.

DENN has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Denny’s from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, May 4th. Truist cut Denny’s from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a report on Monday, February 8th. Stephens raised Denny’s from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $24.00 in a report on Thursday, March 18th. KeyCorp initiated coverage on Denny’s in a report on Thursday, April 15th. They issued a “sector weight” rating for the company. Finally, Wedbush increased their price target on Denny’s from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $18.00.

DENN stock traded down $0.22 during midday trading on Wednesday, hitting $16.90. 673 shares of the company’s stock were exchanged, compared to its average volume of 679,779. The business has a 50-day simple moving average of $18.11 and a two-hundred day simple moving average of $15.39. The stock has a market capitalization of $1.08 billion, a PE ratio of 107.01, a P/E/G ratio of 3.90 and a beta of 1.74. Denny’s Co. has a 1-year low of $7.86 and a 1-year high of $20.02.

Denny’s (NASDAQ:DENN) last posted its earnings results on Tuesday, May 4th. The restaurant operator reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Denny’s had a negative return on equity of 6.12% and a net margin of 3.44%. The business had revenue of $80.60 million for the quarter, compared to analyst estimates of $77.63 million. During the same period last year, the business earned $0.17 EPS. Denny’s’s revenue was down 16.6% compared to the same quarter last year. Equities research analysts forecast that Denny’s Co. will post -0.09 earnings per share for the current fiscal year.

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 30, 2020, it had 1,650 franchised, licensed, and company restaurants worldwide. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in 2002.

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Institutional Ownership by Quarter for Denny`s (NASDAQ:DENN)

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