Denny’s Corporation $DENN Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC reduced its holdings in shares of Denny’s Corporation (NASDAQ:DENN) by 16.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,621,590 shares of the restaurant operator’s stock after selling 327,658 shares during the period. First Eagle Investment Management LLC’s holdings in Denny’s were worth $8,481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DENN. Panagora Asset Management Inc. grew its holdings in Denny’s by 2.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 179,840 shares of the restaurant operator’s stock worth $737,000 after acquiring an additional 3,752 shares in the last quarter. Savant Capital LLC lifted its position in shares of Denny’s by 21.9% during the second quarter. Savant Capital LLC now owns 58,041 shares of the restaurant operator’s stock worth $238,000 after purchasing an additional 10,410 shares during the last quarter. SG Americas Securities LLC acquired a new position in Denny’s in the third quarter worth about $58,000. Bank of Montreal Can bought a new stake in Denny’s in the second quarter valued at about $48,000. Finally, Geode Capital Management LLC raised its stake in Denny’s by 1.1% during the second quarter. Geode Capital Management LLC now owns 1,241,142 shares of the restaurant operator’s stock valued at $5,090,000 after buying an additional 13,816 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Denny’s Price Performance

Shares of DENN opened at $6.25 on Wednesday. Denny’s Corporation has a 12 month low of $2.85 and a 12 month high of $7.66. The stock has a fifty day moving average price of $6.24 and a 200 day moving average price of $5.67. The company has a market cap of $321.87 million, a P/E ratio of 31.25 and a beta of 1.37.

Analysts Set New Price Targets

DENN has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Denny’s in a report on Monday, December 29th. Oppenheimer downgraded shares of Denny’s from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 4th. Truist Financial reiterated a “hold” rating and set a $6.00 target price on shares of Denny’s in a research note on Tuesday, November 4th. Finally, Benchmark downgraded shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $5.54.

Denny’s 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.