Denny’s Co. (NASDAQ:DENN) Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in shares of Denny’s Co. (NASDAQ:DENN) by 5.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 209,163 shares of the restaurant operator’s stock after acquiring an additional 10,007 shares during the quarter. Bank of New York Mellon Corp’s holdings in Denny’s were worth $1,265,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Access Investment Management LLC lifted its stake in Denny’s by 1.5% in the fourth quarter. Access Investment Management LLC now owns 218,235 shares of the restaurant operator’s stock valued at $1,320,000 after acquiring an additional 3,135 shares during the last quarter. State Street Corp raised its holdings in shares of Denny’s by 0.3% during the 3rd quarter. State Street Corp now owns 1,175,986 shares of the restaurant operator’s stock valued at $7,585,000 after purchasing an additional 3,142 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Denny’s by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator’s stock valued at $7,618,000 after purchasing an additional 3,902 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Denny’s by 25.3% in the fourth quarter. SG Americas Securities LLC now owns 23,272 shares of the restaurant operator’s stock worth $141,000 after purchasing an additional 4,704 shares in the last quarter. Finally, FMR LLC increased its position in Denny’s by 95.2% during the third quarter. FMR LLC now owns 12,239 shares of the restaurant operator’s stock worth $79,000 after buying an additional 5,970 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Denny’s Price Performance

NASDAQ:DENN opened at $3.91 on Monday. Denny’s Co. has a one year low of $3.80 and a one year high of $9.25. The company has a fifty day moving average price of $5.34 and a 200 day moving average price of $5.98. The stock has a market cap of $201.80 million, a P/E ratio of 9.54 and a beta of 2.08.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Wednesday, February 12th. The restaurant operator reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Denny’s had a net margin of 4.77% and a negative return on equity of 50.01%. As a group, equities research analysts anticipate that Denny’s Co. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

DENN has been the subject of a number of analyst reports. Oppenheimer reduced their price target on Denny’s from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Piper Sandler decreased their target price on Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Wedbush dropped their price target on shares of Denny’s from $10.00 to $8.50 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Citigroup decreased their price objective on shares of Denny’s from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, StockNews.com lowered shares of Denny’s from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.75.

Insider Buying and Selling at Denny’s

In other news, EVP Stephen C. Dunn acquired 9,815 shares of the stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $5.08 per share, for a total transaction of $49,860.20. Following the completion of the transaction, the executive vice president now owns 113,666 shares in the company, valued at approximately $577,423.28. This trade represents a 9.45 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kelli Valade bought 9,700 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average cost of $5.13 per share, for a total transaction of $49,761.00. Following the purchase, the chief executive officer now owns 192,806 shares of the company’s stock, valued at $989,094.78. This trade represents a 5.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 20,465 shares of company stock valued at $104,457 in the last quarter. Corporate insiders own 4.20% of the company’s stock.

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.