Victory Capital Management Inc. Makes New $240,000 Investment in Denny’s Corporation (NASDAQ:DENN)

Victory Capital Management Inc. purchased a new position in shares of Denny’s Corporation (NASDAQ:DENN) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 65,436 shares of the restaurant operator’s stock, valued at approximately $240,000. Victory Capital Management Inc. owned approximately 0.13% of Denny’s at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of DENN. CWM LLC raised its holdings in shares of Denny’s by 217.7% in the first quarter. CWM LLC now owns 6,725 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 4,608 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of Denny’s in the first quarter valued at about $40,000. Cerity Partners LLC bought a new position in shares of Denny’s in the first quarter valued at about $41,000. Quarry LP raised its holdings in shares of Denny’s by 178.4% in the fourth quarter. Quarry LP now owns 9,618 shares of the restaurant operator’s stock valued at $58,000 after buying an additional 6,163 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of Denny’s in the first quarter valued at about $60,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

DENN has been the subject of several recent research reports. Citigroup dropped their price objective on Denny’s from $7.00 to $6.25 and set a “buy” rating for the company in a report on Thursday, April 24th. Oppenheimer dropped their price objective on Denny’s from $7.00 to $6.00 and set an “outperform” rating for the company in a 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 stock. Based on data from MarketBeat, Denny’s currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.46.

Denny’s Price Performance

DENN stock opened at $3.60 on Monday. The stock has a market capitalization of $184.50 million, a price-to-earnings ratio of 10.91 and a beta of 1.71. The business’s fifty day moving average price is $4.11 and its two-hundred day moving average price is $4.35. Denny’s Corporation has a fifty-two week low of $2.85 and a fifty-two week high of $7.73.

Denny’s (NASDAQ:DENN) last released its earnings results on Monday, May 5th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. Denny’s had a negative return on equity of 57.90% and a net margin of 3.79%. The company had revenue of $111.64 million for the quarter, compared to analyst estimates of $110.11 million. During the same period in the prior year, the firm posted $0.11 EPS. Denny’s’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts expect that Denny’s Corporation will post 0.5 EPS for the current year.

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.