California Public Employees Retirement System cut its stake in shares of Denny’s Corp (NASDAQ:DENN) by 6.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 273,349 shares of the restaurant operator’s stock after selling 17,681 shares during the period. California Public Employees Retirement System owned about 0.44% of Denny’s worth $4,431,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its position in Denny’s by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 32,189 shares of the restaurant operator’s stock valued at $522,000 after purchasing an additional 1,253 shares in the last quarter. Atlantic Trust LLC grew its position in Denny’s by 9.9% in the third quarter. Atlantic Trust LLC now owns 37,910 shares of the restaurant operator’s stock worth $558,000 after acquiring an additional 3,430 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Denny’s by 61.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,475 shares of the restaurant operator’s stock worth $243,000 after acquiring an additional 6,300 shares in the last quarter. MetLife Investment Advisors LLC grew its position in Denny’s by 29.8% in the third quarter. MetLife Investment Advisors LLC now owns 41,444 shares of the restaurant operator’s stock worth $610,000 after acquiring an additional 9,504 shares in the last quarter. Finally, Sawgrass Asset Management LLC bought a new stake in Denny’s in the fourth quarter worth approximately $172,000. 90.29% of the stock is currently owned by hedge funds and other institutional investors.
DENN stock opened at $18.00 on Friday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 26.47 and a beta of 0.17. Denny’s Corp has a 12 month low of $13.32 and a 12 month high of $18.94.
Denny’s (NASDAQ:DENN) last posted its earnings results on Tuesday, February 12th. The restaurant operator reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. The company had revenue of $159.55 million during the quarter, compared to the consensus estimate of $158.85 million. Denny’s had a net margin of 6.93% and a negative return on equity of 36.93%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, sell-side analysts predict that Denny’s Corp will post 0.58 EPS for the current fiscal year.
In other news, CEO John C. Miller sold 125,794 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $17.95, for a total value of $2,258,002.30. Following the completion of the sale, the chief executive officer now directly owns 587,158 shares in the company, valued at $10,539,486.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP F Mark Wolfinger sold 7,500 shares of the business’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $17.88, for a total transaction of $134,100.00. Following the completion of the sale, the executive vice president now owns 783,480 shares of the company’s stock, valued at $14,008,622.40. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by insiders.
Several analysts have commented on DENN shares. BidaskClub raised shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Thursday, December 13th. Maxim Group started coverage on shares of Denny’s in a research report on Tuesday, December 11th. They issued a “buy” rating and a $21.00 target price for the company. Wedbush reissued a “buy” rating and issued a $20.00 target price on shares of Denny’s in a research report on Monday, February 11th. Finally, Zacks Investment Research raised shares of Denny’s from a “sell” rating to a “hold” rating in a research report on Tuesday, December 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $19.00.
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Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.
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