Assenagon Asset Management S.A. Lowers Stock Holdings in Denny’s Corporation (NASDAQ:DENN)

Assenagon Asset Management S.A. reduced its stake in Denny’s Corporation (NASDAQ:DENN) by 25.1% during the first quarter, HoldingsChannel reports. The firm owned 25,147 shares of the restaurant operator’s stock after selling 8,440 shares during the period. Assenagon Asset Management S.A.’s holdings in Denny’s were worth $92,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DENN. Boston Partners raised its stake in Denny’s by 2,820.6% in the fourth quarter. Boston Partners now owns 1,665,893 shares of the restaurant operator’s stock valued at $10,081,000 after purchasing an additional 1,608,854 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Denny’s by 99.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,138,473 shares of the restaurant operator’s stock valued at $6,888,000 after acquiring an additional 568,266 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Denny’s by 19.7% in the fourth quarter. First Eagle Investment Management LLC now owns 1,665,680 shares of the restaurant operator’s stock valued at $10,077,000 after acquiring an additional 274,459 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Denny’s by 20.7% in the fourth quarter. Wellington Management Group LLP now owns 1,559,063 shares of the restaurant operator’s stock valued at $9,432,000 after acquiring an additional 267,694 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Denny’s by 24.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,265,381 shares of the restaurant operator’s stock valued at $7,656,000 after acquiring an additional 251,874 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Denny’s Trading Down 2.6%

Shares of DENN stock opened at $4.14 on Friday. Denny’s Corporation has a 12 month low of $2.85 and a 12 month high of $7.73. The stock has a market cap of $212.18 million, a PE ratio of 12.55 and a beta of 1.64. The company’s fifty day moving average price is $3.88 and its 200-day moving average price is $4.76.

Denny’s (NASDAQ:DENN) last announced its earnings results on Monday, May 5th. The restaurant operator reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. Denny’s had a net margin of 3.79% and a negative return on equity of 57.90%. The firm had revenue of $111.64 million for the quarter, compared to analysts’ expectations of $110.11 million. During the same quarter in the previous year, the business posted $0.11 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts forecast that Denny’s Corporation will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DENN. Oppenheimer cut their price target on shares of Denny’s from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Citigroup dropped their target price on shares of Denny’s from $7.00 to $6.25 and set a “buy” rating on the stock in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Denny’s currently has an average rating of “Moderate Buy” and a consensus target price of $7.46.

Denny’s 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.