California Public Employees Retirement System trimmed its position in Denny’s Corp (NASDAQ:DENN) by 11.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 282,921 shares of the restaurant operator’s stock after selling 35,057 shares during the period. California Public Employees Retirement System owned approximately 0.45% of Denny’s worth $4,507,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new stake in shares of Denny’s during the second quarter worth $300,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Denny’s during the second quarter valued at $162,000. Koch Industries Inc. acquired a new position in Denny’s during the first quarter valued at $157,000. Principal Financial Group Inc. acquired a new position in Denny’s during the first quarter valued at $177,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in Denny’s during the second quarter valued at $202,000. Institutional investors own 89.89% of the company’s stock.
Shares of DENN stock traded down $0.22 on Friday, reaching $16.29. 182,254 shares of the company were exchanged, compared to its average volume of 407,730. The stock has a market capitalization of $1.05 billion, a P/E ratio of 28.09 and a beta of 0.14. Denny’s Corp has a 1 year low of $12.20 and a 1 year high of $18.16.
Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $158.00 million for the quarter, compared to analysts’ expectations of $159.28 million. Denny’s had a net margin of 7.48% and a negative return on equity of 40.31%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. On average, equities research analysts expect that Denny’s Corp will post 0.68 earnings per share for the current year.
A number of research analysts recently issued reports on DENN shares. Zacks Investment Research downgraded shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. ValuEngine raised shares of Denny’s from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Stephens raised shares of Denny’s from an “equal” rating to a “weight” rating and lifted their price objective for the company from $16.50 to $17.00 in a report on Wednesday, October 31st. BidaskClub raised shares of Denny’s from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. Finally, Wedbush cut their price objective on shares of Denny’s from $18.50 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $17.33.
In other Denny’s news, EVP F Mark Wolfinger sold 7,500 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $16.65, for a total value of $124,875.00. Following the transaction, the executive vice president now directly owns 723,394 shares in the company, valued at approximately $12,044,510.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.80% of the company’s stock.
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Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 27, 2017, it had 1,735 franchised, licensed, and company restaurants worldwide, including 128 restaurants in Canada, Puerto Rico, Mexico, New Zealand, Honduras, the Philippines, Costa Rica, Dominican Republic, the United Arab Emirates, Guam, Curaçao, El Salvador, Guatemala, and the United Kingdom.
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