BNP Paribas Financial Markets Sells 13,425 Shares of Denny’s Co. (NASDAQ:DENN)

BNP Paribas Financial Markets cut its stake in shares of Denny’s Co. (NASDAQ:DENN) by 67.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,558 shares of the restaurant operator’s stock after selling 13,425 shares during the quarter. BNP Paribas Financial Markets’ holdings in Denny’s were worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its position in 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 valued at $7,656,000 after purchasing an additional 251,874 shares during the last quarter. Prudential Financial Inc. lifted its position in 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 during the last quarter. First Eagle Investment Management LLC lifted its position in 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 valued at $10,077,000 after purchasing an additional 274,459 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Denny’s by 99.7% during 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 purchasing an additional 568,266 shares during the last quarter. Finally, Boston Partners lifted its position in Denny’s by 2,820.6% during 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 during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Denny’s Stock Up 4.2%

Shares of NASDAQ DENN opened at $3.98 on Wednesday. Denny’s Co. has a 52 week low of $2.85 and a 52 week high of $7.73. The firm’s fifty day moving average is $3.68 and its 200 day moving average is $4.96. The company has a market cap of $203.98 million, a price-to-earnings ratio of 9.71 and a beta of 1.63.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DENN. Piper Sandler dropped their target price on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Wedbush dropped their target price on shares of Denny’s from $10.00 to $8.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Oppenheimer decreased their price target on shares of Denny’s from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 6th. Finally, Citigroup decreased their price target on shares of Denny’s from $7.00 to $6.25 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.46.

About Denny’s

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.