Bank of America Corp DE Has $17.76 Million Stock Holdings in Denny’s Co. (NASDAQ:DENN)

Bank of America Corp DE decreased its stake in Denny’s Co. (NASDAQ:DENN) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,936,236 shares of the restaurant operator’s stock after selling 229,308 shares during the period. Bank of America Corp DE owned about 5.72% of Denny’s worth $17,764,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of Denny’s by 24.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,265,381 shares of the restaurant operator’s stock worth $7,656,000 after buying an additional 251,874 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Denny’s by 107.0% during the fourth quarter. Prudential Financial Inc. now owns 280,381 shares of the restaurant operator’s stock valued at $1,696,000 after purchasing an additional 144,900 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Denny’s by 19.7% during the fourth quarter. First Eagle Investment Management LLC now owns 1,665,680 shares of the restaurant operator’s stock worth $10,077,000 after purchasing an additional 274,459 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of 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 buying an additional 568,266 shares during the period. Finally, Boston Partners raised its holdings in Denny’s by 2,820.6% in the 4th quarter. Boston Partners now owns 1,665,893 shares of the restaurant operator’s stock valued at $10,081,000 after buying an additional 1,608,854 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Kelli Valade acquired 9,700 shares of Denny’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of $5.13 per share, with a total value of $49,761.00. Following the completion of the purchase, the chief executive officer now owns 192,806 shares of the company’s stock, valued at approximately $989,094.78. The trade was a 5.30% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen C. Dunn acquired 9,815 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average price of $5.08 per share, with a total value of $49,860.20. Following the acquisition, the executive vice president now owns 113,666 shares of the company’s stock, valued at approximately $577,423.28. This represents a 9.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 20,465 shares of company stock worth $104,457. Corporate insiders own 4.20% of the company’s stock.

Denny’s Trading Down 2.0%

Shares of Denny’s stock opened at $3.93 on Wednesday. The business has a 50-day moving average price of $3.70 and a two-hundred day moving average price of $5.16. Denny’s Co. has a 1-year low of $2.85 and a 1-year high of $7.78. The company has a market cap of $201.42 million, a P/E ratio of 9.59 and a beta of 1.63.

Denny’s (NASDAQ:DENN) last released its earnings results on Monday, May 5th. The restaurant operator reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $111.64 million during the quarter, compared to analysts’ expectations of $110.11 million. Denny’s had a negative return on equity of 50.01% and a net margin of 4.77%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. Equities research analysts forecast that Denny’s Co. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on DENN. Citigroup reduced 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. Piper Sandler decreased their price objective on Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Oppenheimer reduced their price target on Denny’s from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. Finally, Wedbush lowered their price objective on Denny’s from $10.00 to $8.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Denny’s currently has an average rating of “Moderate Buy” and an average 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.