Arizona State Retirement System Decreases Holdings in Denny’s Co. (NASDAQ:DENN)

Arizona State Retirement System reduced its position in Denny’s Co. (NASDAQ:DENN) by 7.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,730 shares of the restaurant operator’s stock after selling 1,227 shares during the period. Arizona State Retirement System’s holdings in Denny’s were worth $160,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in shares of Denny’s by 3.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,049,458 shares of the restaurant operator’s stock valued at $68,179,000 after buying an additional 296,554 shares in the last quarter. Vanguard Group Inc. increased its holdings in Denny’s by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,273,187 shares of the restaurant operator’s stock valued at $27,724,000 after acquiring an additional 108,758 shares in the last quarter. Earnest Partners LLC increased its holdings in Denny’s by 17.4% during the 3rd quarter. Earnest Partners LLC now owns 1,545,902 shares of the restaurant operator’s stock valued at $13,094,000 after acquiring an additional 228,709 shares in the last quarter. First Eagle Investment Management LLC raised its position in Denny’s by 43.6% during the third quarter. First Eagle Investment Management LLC now owns 815,485 shares of the restaurant operator’s stock worth $6,907,000 after acquiring an additional 247,470 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Denny’s by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 772,551 shares of the restaurant operator’s stock valued at $6,544,000 after purchasing an additional 10,826 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DENN has been the subject of a number of recent research reports. Oppenheimer dropped their price objective on shares of Denny’s from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Truist Financial cut their price target on Denny’s from $13.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Wedbush decreased their price objective on Denny’s from $11.00 to $10.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Finally, StockNews.com raised shares of Denny’s from a “hold” rating to a “buy” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.92.

Insider Transactions at Denny’s

In related news, Director John C. Miller sold 35,359 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $9.25, for a total value of $327,070.75. Following the completion of the sale, the director now directly owns 740,626 shares in the company, valued at $6,850,790.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.20% of the company’s stock.

Denny’s Stock Up 0.4 %

Shares of Denny’s stock opened at $8.20 on Tuesday. The firm has a market cap of $435.42 million, a PE ratio of 23.43, a P/E/G ratio of 1.41 and a beta of 1.93. Denny’s Co. has a fifty-two week low of $8.00 and a fifty-two week high of $12.53. The business’s fifty day moving average is $8.91 and its two-hundred day moving average is $9.53.

Denny’s (NASDAQ:DENN) last released its earnings results on Tuesday, February 13th. The restaurant operator reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.03). The business had revenue of $115.40 million for the quarter, compared to analysts’ expectations of $115.67 million. Denny’s had a negative return on equity of 70.78% and a net margin of 4.30%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. Equities research analysts anticipate that Denny’s Co. will post 0.64 EPS for the current year.

Denny’s Profile

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.