Los Angeles Capital Management LLC Purchases Shares of 19,695 Denny’s Corporation $DENN

Los Angeles Capital Management LLC purchased a new position in Denny’s Corporation (NASDAQ:DENN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,695 shares of the restaurant operator’s stock, valued at approximately $81,000.

Other institutional investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Denny’s during the first quarter valued at approximately $251,000. Boston Partners increased its stake in Denny’s by 51.3% in the 1st quarter. Boston Partners now owns 2,521,085 shares of the restaurant operator’s stock worth $9,250,000 after acquiring an additional 855,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Denny’s by 5.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,670,070 shares of the restaurant operator’s stock worth $6,129,000 after acquiring an additional 81,550 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Denny’s by 45.2% during the 1st quarter. Royce & Associates LP now owns 312,004 shares of the restaurant operator’s stock worth $1,145,000 after acquiring an additional 97,117 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Denny’s by 63.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 828,571 shares of the restaurant operator’s stock valued at $3,041,000 after acquiring an additional 321,877 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DENN shares. Truist Financial reaffirmed a “hold” rating and set a $6.00 price target on shares of Denny’s in a research note on Tuesday, November 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Denny’s in a report on Wednesday, October 8th. Oppenheimer downgraded shares of Denny’s from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 4th. Benchmark cut Denny’s from a “buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Finally, Piper Sandler set a $4.00 price objective on Denny’s and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Denny’s has an average rating of “Hold” and an average price target of $5.96.

Insider Buying and Selling

In other Denny’s news, insider Jumana Capital Investments Llc bought 250,000 shares of Denny’s stock in a transaction on Monday, November 3rd. The shares were acquired at an average price of $4.08 per share, for a total transaction of $1,020,000.00. Following the completion of the purchase, the insider directly owned 4,524,905 shares in the company, valued at approximately $18,461,612.40. This trade represents a 5.85% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders acquired 433,307 shares of company stock valued at $1,945,837. Corporate insiders own 4.20% of the company’s stock.

Denny’s Price Performance

Denny’s stock opened at $6.13 on Wednesday. The firm has a market capitalization of $315.69 million, a P/E ratio of 19.77 and a beta of 1.60. Denny’s Corporation has a 1-year low of $2.85 and a 1-year high of $7.66. The company’s 50-day moving average is $5.24 and its 200 day moving average is $4.54.

Denny’s (NASDAQ:DENN) last released its earnings results on Tuesday, November 4th. The restaurant operator reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). Denny’s had a net margin of 3.53% and a negative return on equity of 59.51%. The business had revenue of $113.24 million for the quarter, compared to the consensus estimate of $116.91 million. During the same period in the prior year, the company posted $0.14 EPS. The company’s quarterly revenue was up 202.6% compared to the same quarter last year. Research analysts anticipate that Denny’s Corporation will post 0.5 earnings per share for the current fiscal year.

Denny’s Company Profile

Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny’s and Other segments. The Denny’s segment includes the results of all company and franchised and licensed Denny’s restaurants. The Other segment refers to the results of all company and franchise restaurants.