SG Americas Securities LLC Buys Shares of 18,568 Denny’s Co. (NASDAQ:DENN)

SG Americas Securities LLC bought a new stake in Denny’s Co. (NASDAQ:DENN) during the 3rd quarter, Holdings Channel.com reports. The fund bought 18,568 shares of the restaurant operator’s stock, valued at approximately $120,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Denny’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock valued at $29,885,000 after purchasing an additional 89,465 shares during the last quarter. First Eagle Investment Management LLC grew its stake in Denny’s by 15.3% in the first quarter. First Eagle Investment Management LLC now owns 1,103,727 shares of the restaurant operator’s stock valued at $9,889,000 after purchasing an additional 146,658 shares during the last quarter. Boston Partners purchased a new position in Denny’s in the first quarter valued at about $193,000. AQR Capital Management LLC grew its stake in Denny’s by 63.8% in the second quarter. AQR Capital Management LLC now owns 216,694 shares of the restaurant operator’s stock valued at $1,539,000 after purchasing an additional 84,371 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Denny’s by 56.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 122,850 shares of the restaurant operator’s stock valued at $1,102,000 after purchasing an additional 44,163 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Denny’s Stock Up 4.8 %

Denny’s stock opened at $6.56 on Friday. Denny’s Co. has a 52 week low of $5.37 and a 52 week high of $11.16. The company has a market capitalization of $341.24 million, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.11 and a beta of 2.02. The stock has a 50-day moving average price of $6.31 and a 200 day moving average price of $6.92.

Denny’s (NASDAQ:DENN) last released its earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Denny’s had a negative return on equity of 48.06% and a net margin of 3.90%. The firm had revenue of $111.76 million for the quarter, compared to analyst estimates of $115.46 million. During the same period last year, the firm earned $0.17 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. Research analysts anticipate that Denny’s Co. will post 0.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wedbush dropped their price target on Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial dropped their price target on Denny’s from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. StockNews.com upgraded Denny’s from a “hold” rating to a “buy” rating in a research note on Wednesday. Citigroup upgraded Denny’s from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $7.00 to $7.50 in a research note on Friday. Finally, Oppenheimer dropped their price target on Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.10.

About Denny’s

Denny's Corporation, through its subsidiaries, owns and operates franchised full-service restaurant chains under the Denny's and Keke's Breakfast Cafe brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.