Envestnet Asset Management Inc. lifted its holdings in Denny’s Co. (NASDAQ:DENN) by 13.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,962 shares of the restaurant operator’s stock after purchasing an additional 5,631 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of Denny’s worth $887,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Ellevest Inc. boosted its position in shares of Denny’s by 1,715.3% in the 4th quarter. Ellevest Inc. now owns 3,086 shares of the restaurant operator’s stock worth $45,000 after purchasing an additional 2,916 shares in the last quarter. Jefferies Group LLC acquired a new stake in Denny’s during the 4th quarter worth about $147,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Denny’s by 43.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,583 shares of the restaurant operator’s stock worth $155,000 after acquiring an additional 3,230 shares during the period. NEXT Financial Group Inc lifted its position in Denny’s by 80.4% during the 4th quarter. NEXT Financial Group Inc now owns 11,275 shares of the restaurant operator’s stock worth $166,000 after acquiring an additional 5,026 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new stake in Denny’s during the 4th quarter worth about $184,000. 84.96% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on DENN. Zacks Investment Research raised Denny’s from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 28th. KeyCorp began coverage on Denny’s in a research report on Friday, April 9th. They set a “sector weight” rating for the company. MKM Partners boosted their price objective on Denny’s from $16.00 to $18.00 in a report on Thursday, April 1st. Stephens decreased their price objective on Denny’s from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on Denny’s from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, April 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $18.13.
Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, May 4th. The restaurant operator reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $80.60 million for the quarter, compared to analysts’ expectations of $77.63 million. Denny’s had a negative return on equity of 6.12% and a net margin of 3.32%. The firm’s revenue was down 16.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. On average, equities research analysts expect that Denny’s Co. will post 0.43 EPS for the current year.
In related news, CAO Jay C. Gilmore sold 3,300 shares of the stock in a transaction on Monday, March 15th. The stock was sold at an average price of $19.81, for a total value of $65,373.00. Following the transaction, the chief accounting officer now owns 87,672 shares of the company’s stock, valued at $1,736,782.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.30% of the company’s stock.
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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