Denny’s Corporation $DENN Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in Denny’s Corporation (NASDAQ:DENN) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 797,497 shares of the restaurant operator’s stock after selling 31,074 shares during the period. Envestnet Asset Management Inc. owned 1.56% of Denny’s worth $3,270,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Boston Partners raised its position in shares of Denny’s by 51.3% during the 1st quarter. Boston Partners now owns 2,521,085 shares of the restaurant operator’s stock worth $9,250,000 after purchasing an additional 855,192 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in Denny’s by 5.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,670,070 shares of the restaurant operator’s stock worth $6,129,000 after buying an additional 81,550 shares during the last quarter. Earnest Partners LLC increased its position in Denny’s by 16.2% in the first quarter. Earnest Partners LLC now owns 1,561,053 shares of the restaurant operator’s stock worth $5,729,000 after buying an additional 218,019 shares during the period. AQR Capital Management LLC increased its position in Denny’s by 116.0% in the first quarter. AQR Capital Management LLC now owns 365,159 shares of the restaurant operator’s stock worth $1,340,000 after buying an additional 196,118 shares during the period. Finally, Royce & Associates LP lifted its stake in Denny’s by 45.2% in the first quarter. Royce & Associates LP now owns 312,004 shares of the restaurant operator’s stock valued at $1,145,000 after buying an additional 97,117 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on DENN. Benchmark lowered shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Mizuho raised shares of Denny’s to a “hold” rating in a research note on Tuesday, October 28th. Truist Financial restated a “hold” rating and issued a $6.00 price target on shares of Denny’s in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Denny’s in a report on Wednesday, October 8th. Finally, Oppenheimer lowered Denny’s from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 4th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.96.

Insider Activity

In other news, insider Jumana Capital Investments Llc acquired 250,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were bought at an average price of $4.08 per share, with a total value of $1,020,000.00. Following the purchase, the insider owned 4,524,905 shares of the company’s stock, valued at approximately $18,461,612.40. This represents a 5.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders acquired 433,307 shares of company stock worth $1,945,837. 4.20% of the stock is currently owned by company insiders.

Denny’s Stock Performance

Shares of NASDAQ:DENN opened at $6.14 on Friday. The company has a 50 day moving average of $5.19 and a 200-day moving average of $4.50. The firm has a market cap of $316.20 million, a P/E ratio of 19.81 and a beta of 1.60. Denny’s Corporation has a twelve month low of $2.85 and a twelve month high of $7.66.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The company had revenue of $113.24 million for the quarter, compared to analyst estimates of $116.91 million. Denny’s had a net margin of 3.53% and a negative return on equity of 59.51%. Denny’s’s revenue was up 202.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. Equities research analysts forecast 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.