Oppenheimer Asset Management Inc. Invests $193,000 in Denny’s Co. (NASDAQ:DENN)

Oppenheimer Asset Management Inc. purchased a new position in shares of Denny’s Co. (NASDAQ:DENN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 29,991 shares of the restaurant operator’s stock, valued at approximately $193,000. Oppenheimer Asset Management Inc. owned 0.06% of Denny’s as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in shares of Denny’s during the second quarter valued at approximately $25,000. CWM LLC grew its stake in 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 purchasing an additional 3,239 shares in the last quarter. Quarry LP grew its stake in shares of Denny’s by 161.5% during the second quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 2,617 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Denny’s in the second quarter valued at $31,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Denny’s during the second quarter worth about $77,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Denny’s Trading Up 0.2 %

Denny’s stock opened at $6.27 on Thursday. The company has a market capitalization of $321.84 million, a P/E ratio of 19.00, a P/E/G ratio of 1.39 and a beta of 2.02. Denny’s Co. has a 1-year low of $5.37 and a 1-year high of $11.16. The firm’s fifty day simple moving average is $6.49 and its 200-day simple moving average is $6.73.

Denny’s (NASDAQ:DENN) last released its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Denny’s had a negative return on equity of 48.64% and a net margin of 3.90%. The business had revenue of $111.76 million for the quarter, compared to the consensus estimate of $115.46 million. During the same period in the previous year, the business posted $0.17 earnings per share. Denny’s’s revenue was down 2.1% on a year-over-year basis. On average, equities research analysts predict that Denny’s Co. will post 0.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DENN shares. Citigroup raised Denny’s from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $7.00 to $7.50 in a report on Friday, October 25th. Benchmark lowered their target price on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Oppenheimer lowered their price objective on shares of Denny’s from $10.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Wedbush dropped their price target on Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.70.

Denny’s 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.