Denny’s Corporation $DENN Shares Sold by Claret Asset Management Corp

Claret Asset Management Corp decreased its holdings in shares of Denny’s Corporation (NASDAQ:DENN) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 231,763 shares of the restaurant operator’s stock after selling 14,603 shares during the quarter. Claret Asset Management Corp owned approximately 0.45% of Denny’s worth $950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CWM LLC raised its holdings in Denny’s by 217.7% during the first quarter. CWM LLC now owns 6,725 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 4,608 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Denny’s in the 2nd quarter valued at $48,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Denny’s during the 2nd quarter worth $67,000. Los Angeles Capital Management LLC acquired a new stake in Denny’s during the 2nd quarter worth $81,000. Finally, Vontobel Holding Ltd. lifted its position in Denny’s by 45.1% in the second quarter. Vontobel Holding Ltd. now owns 23,897 shares of the restaurant operator’s stock valued at $98,000 after acquiring an additional 7,430 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Denny’s Price Performance

Denny’s stock opened at $6.18 on Monday. The business has a 50 day simple moving average of $5.40 and a 200-day simple moving average of $4.64. Denny’s Corporation has a 12 month low of $2.85 and a 12 month high of $7.66. The stock has a market capitalization of $318.26 million, a PE ratio of 19.94 and a beta of 1.60.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The firm had revenue of $113.24 million during the quarter, compared to analysts’ expectations of $116.91 million. Denny’s had a net margin of 3.53% and a negative return on equity of 59.51%. The business’s quarterly revenue was up 202.6% on a year-over-year basis. During the same quarter last year, the business earned $0.14 earnings per share. As a group, equities research analysts anticipate that Denny’s Corporation will post 0.5 EPS for the current year.

Insider Activity

In other news, insider Jumana Capital Investments Llc purchased 250,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $4.08 per share, with a total value of $1,020,000.00. Following the completion of the acquisition, the insider directly owned 4,524,905 shares of the company’s stock, valued at approximately $18,461,612.40. This trade represents a 5.85% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 433,307 shares of company stock worth $1,945,837 in the last quarter. Insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DENN. Benchmark lowered Denny’s from a “buy” rating to a “hold” rating in a report on Wednesday, November 5th. Weiss Ratings upgraded Denny’s from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, November 25th. Oppenheimer cut Denny’s from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 4th. Truist Financial restated a “hold” rating and set a $6.00 target price on shares of Denny’s in a research report on Tuesday, November 4th. Finally, Piper Sandler set a $4.00 target price on shares of Denny’s and gave the company a “neutral” rating in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Denny’s has a consensus rating of “Hold” and a consensus price target of $5.96.

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.