Denny’s Co. (NASDAQ:DENN) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its stake in shares of Denny’s Co. (NASDAQ:DENN) by 27.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 848,609 shares of the restaurant operator’s stock after selling 327,898 shares during the quarter. Dimensional Fund Advisors LP owned about 1.65% of Denny’s worth $6,025,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of DENN. Quest Partners LLC purchased a new stake in Denny’s in the second quarter valued at approximately $25,000. CWM LLC increased its holdings in shares of Denny’s by 726.2% during the 2nd quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock worth $26,000 after buying an additional 3,239 shares during the last quarter. Boston Partners purchased a new position in shares of Denny’s in the 1st quarter worth $193,000. State Board of Administration of Florida Retirement System boosted its holdings in Denny’s by 87.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 29,189 shares of the restaurant operator’s stock valued at $262,000 after acquiring an additional 13,600 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Denny’s by 20.7% during the first quarter. BNP Paribas Financial Markets now owns 42,593 shares of the restaurant operator’s stock valued at $382,000 after acquiring an additional 7,309 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Denny’s Stock Performance

Denny’s stock opened at $6.05 on Wednesday. The firm has a market capitalization of $310.79 million, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.30 and a beta of 2.02. Denny’s Co. has a one year low of $5.59 and a one year high of $11.16. The stock’s 50 day moving average price is $6.28 and its 200 day moving average price is $7.13.

Denny’s (NASDAQ:DENN) last posted its earnings results on Tuesday, July 30th. The restaurant operator reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The firm had revenue of $115.90 million for the quarter, compared to analyst estimates of $118.98 million. Denny’s had a negative return on equity of 57.37% and a net margin of 4.19%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 earnings per share. On average, analysts forecast that Denny’s Co. will post 0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DENN. Truist Financial cut their price objective on Denny’s from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Benchmark reaffirmed a “buy” rating and set a $15.00 price target on shares of Denny’s in a research report on Wednesday, July 31st. Wedbush decreased their price objective on shares of Denny’s from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, Oppenheimer cut their target price on shares of Denny’s from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Denny’s Company Profile

Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.