Renaissance Technologies LLC Has $333,000 Stake in Denny’s Co. (NASDAQ:DENN)

Renaissance Technologies LLC decreased its position in shares of Denny’s Co. (NASDAQ:DENN) by 66.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,923 shares of the restaurant operator’s stock after selling 93,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.09% of Denny’s worth $333,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DENN. Rice Hall James & Associates LLC raised its position in Denny’s by 3.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 76,010 shares of the restaurant operator’s stock worth $540,000 after purchasing an additional 2,775 shares during the last quarter. Quest Partners LLC bought a new position in Denny’s during the 2nd quarter worth $25,000. Skylands Capital LLC raised its position in Denny’s by 143.7% during the 2nd quarter. Skylands Capital LLC now owns 259,000 shares of the restaurant operator’s stock worth $1,839,000 after purchasing an additional 152,700 shares during the last quarter. Olstein Capital Management L.P. raised its position in Denny’s by 9.9% during the 2nd quarter. Olstein Capital Management L.P. now owns 896,400 shares of the restaurant operator’s stock worth $6,364,000 after purchasing an additional 80,587 shares during the last quarter. Finally, CWM LLC raised its position in Denny’s by 726.2% during the 2nd quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 3,239 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DENN shares. Oppenheimer lowered their target price on Denny’s from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Wedbush lowered their target price on Denny’s from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Truist Financial lowered their target price on Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Benchmark reissued a “buy” rating and issued a $15.00 price objective on shares of Denny’s in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Denny’s has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Denny’s Trading Up 5.1 %

DENN stock opened at $6.34 on Friday. The stock has a 50-day moving average price of $6.23 and a 200-day moving average price of $7.10. Denny’s Co. has a 1-year low of $5.59 and a 1-year high of $11.16. The firm has a market cap of $325.69 million, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, July 30th. The restaurant operator reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). Denny’s had a negative return on equity of 57.37% and a net margin of 4.19%. The business had revenue of $115.90 million during the quarter, compared to the consensus estimate of $118.98 million. During the same period last year, the business posted $0.14 earnings per share. The business’s revenue was down .9% on a year-over-year basis. On average, analysts forecast that Denny’s Co. will post 0.55 earnings per share for the current year.

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.