Charles Schwab Investment Management Inc. Decreases Stake in Denny’s Co. (NASDAQ:DENN)

Charles Schwab Investment Management Inc. cut its holdings in Denny’s Co. (NASDAQ:DENN) by 13.1% during the third quarter, Holdings Channel reports. The institutional investor owned 634,520 shares of the restaurant operator’s stock after selling 95,450 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Denny’s were worth $4,093,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Denny’s in the second quarter valued at approximately $25,000. CWM LLC boosted its stake in shares of Denny’s by 726.2% in the second quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 3,239 shares in the last quarter. Quarry LP boosted its stake in shares of Denny’s by 161.5% in the second quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 2,617 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Denny’s in the second quarter valued at approximately $31,000. Finally, Sanctuary Advisors LLC acquired a new position in Denny’s during the second quarter worth $77,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on DENN. Citigroup raised Denny’s from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $7.00 to $7.50 in a report on Friday, October 25th. Oppenheimer reduced their price objective on Denny’s from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Benchmark reduced their price objective on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, October 25th. Truist Financial reduced their price objective on Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, StockNews.com raised Denny’s from a “hold” rating to a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.70.

Denny’s Stock Up 0.3 %

NASDAQ DENN opened at $6.27 on Friday. Denny’s Co. has a fifty-two week low of $5.37 and a fifty-two week high of $11.16. The stock has a market cap of $321.83 million, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 1.32 and a beta of 2.01. The business has a fifty day moving average of $6.44 and a 200-day moving average of $6.56.

Denny’s (NASDAQ:DENN) last released its quarterly earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Denny’s had a negative return on equity of 48.64% and a net margin of 3.90%. The company had revenue of $111.76 million during the quarter, compared to analyst estimates of $115.46 million. During the same period last year, the firm earned $0.17 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. As a group, analysts anticipate that Denny’s Co. will post 0.52 EPS for the current year.

Denny’s Company 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.