ProShare Advisors LLC Makes New Investment in Denny’s Co. (NASDAQ:DENN)

ProShare Advisors LLC purchased a new position in shares of Denny’s Co. (NASDAQ:DENN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,198 shares of the restaurant operator’s stock, valued at approximately $86,000.

Other institutional investors also recently bought and sold shares of the company. Man Group plc acquired a new position in Denny’s during the fourth quarter worth approximately $94,000. Millennium Management LLC increased its holdings in shares of Denny’s by 203.7% in the 4th quarter. Millennium Management LLC now owns 33,843 shares of the restaurant operator’s stock valued at $205,000 after acquiring an additional 22,700 shares during the period. Deutsche Bank AG raised its position in Denny’s by 55.7% in the 4th quarter. Deutsche Bank AG now owns 61,351 shares of the restaurant operator’s stock valued at $371,000 after purchasing an additional 21,944 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in Denny’s by 128.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 405,156 shares of the restaurant operator’s stock valued at $2,451,000 after purchasing an additional 227,544 shares during the last quarter. Finally, CastleKnight Management LP raised its position in Denny’s by 87.0% in the 4th quarter. CastleKnight Management LP now owns 164,000 shares of the restaurant operator’s stock valued at $992,000 after purchasing an additional 76,300 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Denny’s Stock Performance

Shares of DENN opened at $3.98 on Wednesday. The stock has a market capitalization of $203.98 million, a P/E ratio of 9.71 and a beta of 1.63. The company’s fifty day moving average is $3.68 and its two-hundred day moving average is $4.96. Denny’s Co. has a 1 year low of $2.85 and a 1 year high of $7.73.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Monday, May 5th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $111.64 million for the quarter, compared to analysts’ expectations of $110.11 million. Denny’s had a net margin of 4.77% and a negative return on equity of 50.01%. Denny’s’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. Sell-side analysts predict that Denny’s Co. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

DENN has been the subject of several research reports. Citigroup reduced their price target on shares of Denny’s from $7.00 to $6.25 and set a “buy” rating for the company in a research report on Thursday, April 24th. Wedbush reduced their price target 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. Piper Sandler reduced their price target 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. Finally, Oppenheimer reduced their price target on shares of Denny’s from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.