Russell Investments Group Ltd. Sells 422,941 Shares of Denny’s Corporation $DENN

Russell Investments Group Ltd. reduced its holdings in shares of Denny’s Corporation (NASDAQ:DENN) by 37.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 715,532 shares of the restaurant operator’s stock after selling 422,941 shares during the quarter. Russell Investments Group Ltd. owned approximately 1.40% of Denny’s worth $2,626,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of Denny’s by 20.7% during the 4th quarter. Wellington Management Group LLP now owns 1,559,063 shares of the restaurant operator’s stock worth $9,432,000 after acquiring an additional 267,694 shares during the period. Olstein Capital Management L.P. boosted its stake in Denny’s by 6.2% in the 1st quarter. Olstein Capital Management L.P. now owns 973,000 shares of the restaurant operator’s stock valued at $3,571,000 after purchasing an additional 56,600 shares during the period. Envestnet Asset Management Inc. boosted its stake in Denny’s by 63.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 828,571 shares of the restaurant operator’s stock valued at $3,041,000 after purchasing an additional 321,877 shares during the period. Dimensional Fund Advisors LP boosted its stake in Denny’s by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 759,837 shares of the restaurant operator’s stock valued at $4,597,000 after purchasing an additional 3,538 shares during the period. Finally, Skylands Capital LLC boosted its stake in Denny’s by 30.8% in the 1st quarter. Skylands Capital LLC now owns 745,620 shares of the restaurant operator’s stock valued at $2,736,000 after purchasing an additional 175,620 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Denny’s Stock Performance

Denny’s stock opened at $4.48 on Monday. Denny’s Corporation has a 52 week low of $2.85 and a 52 week high of $7.73. The stock has a market capitalization of $230.72 million, a P/E ratio of 14.45 and a beta of 1.70. The stock has a fifty day moving average of $4.09 and a 200-day moving average of $4.10.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings results on Monday, August 4th. The restaurant operator reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Denny’s had a negative return on equity of 59.51% and a net margin of 3.53%.The business had revenue of $117.66 million for the quarter, compared to analyst estimates of $118.14 million. During the same period last year, the firm posted $0.13 EPS. Denny’s’s quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts forecast that Denny’s Corporation will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DENN has been the subject of several recent research reports. Benchmark reduced their price target on Denny’s from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Oppenheimer reduced their price target on Denny’s from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Finally, Piper Sandler set a $4.00 price target on Denny’s and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.46.

Denny’s Company 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.