Denny’s Co. (NASDAQ:DENN) Shares Sold by FourThought Financial LLC

FourThought Financial LLC lowered its position in Denny’s Co. (NASDAQ:DENN – Get Rating) by 19.0% during the third quarter, Holdings Channel.com reports. The fund owned 6,099 shares of the restaurant operator’s stock after selling 1,433 shares during the quarter. FourThought Financial LLC’s holdings in Denny’s were worth $57,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DENN. Quadrant Capital Group LLC boosted its holdings in Denny’s by 191.4% in the third quarter. Quadrant Capital Group LLC now owns 2,841 shares of the restaurant operator’s stock valued at $27,000 after acquiring an additional 1,866 shares during the last quarter. Quantbot Technologies LP acquired a new position in Denny’s in the first quarter valued at $29,000. Great West Life Assurance Co. Can acquired a new position in Denny’s in the third quarter valued at $34,000. Barclays PLC boosted its holdings in Denny’s by 50.6% in the third quarter. Barclays PLC now owns 4,539 shares of the restaurant operator’s stock valued at $42,000 after acquiring an additional 1,526 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Denny’s in the third quarter valued at $48,000. Institutional investors and hedge funds own 90.65% of the company’s stock.

Insider Transactions at Denny’s

In other news, EVP Gail Sharps Myers sold 7,450 shares of Denny’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $11.52, for a total transaction of $85,824.00. Following the sale, the executive vice president now directly owns 24,868 shares of the company’s stock, valued at $286,479.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Benchmark lifted their target price on Denny’s from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, February 14th. CL King raised their price objective on Denny’s from $14.00 to $15.00 in a research report on Tuesday, February 14th. StockNews.com began coverage on Denny’s in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Wedbush raised their price objective on Denny’s from $12.50 to $13.50 and gave the company a “neutral” rating in a research report on Tuesday, February 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.50.

Denny’s Stock Performance

Shares of NASDAQ DENN opened at $11.00 on Friday. Denny’s Co. has a 1 year low of $8.46 and a 1 year high of $14.74. The firm has a market cap of $620.62 million, a price-to-earnings ratio of 9.02, a PEG ratio of 1.91 and a beta of 1.68. The stock’s 50-day simple moving average is $11.90 and its 200-day simple moving average is $11.00.

Denny’s (NASDAQ:DENN – Get Rating) last announced its earnings results on Monday, February 13th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Denny’s had a negative return on equity of 67.16% and a net margin of 16.37%. The business had revenue of $120.85 million for the quarter, compared to analyst estimates of $120.66 million. During the same period in the previous year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, research analysts predict that Denny’s Co. will post 0.63 EPS for the current year.

Denny’s Profile

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Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny’s and Keke’s segments. The Denny’s segment includes franchised and licensed Denny’s restaurants. The Keke’s segment refers to the other company and franchise restaurants. The company was founded by Harold Butler and Richard Jezak in 1953 and is headquartered in Spartanburg, SC.