Burney Co. Has $413,000 Stock Position in Denny’s Co. (NASDAQ:DENN)

Burney Co. lifted its holdings in shares of Denny’s Co. (NASDAQ:DENN) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,520 shares of the restaurant operator’s stock after purchasing an additional 2,912 shares during the quarter. Burney Co.’s holdings in Denny’s were worth $413,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of Denny’s by 88.3% during the 1st quarter. Barclays PLC now owns 28,168 shares of the restaurant operator’s stock worth $315,000 after buying an additional 13,212 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Denny’s by 5.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 66,720 shares of the restaurant operator’s stock worth $822,000 after buying an additional 3,175 shares during the period. Bank of Montreal Can bought a new stake in shares of Denny’s during the 2nd quarter worth $7,813,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Denny’s during the 2nd quarter worth $216,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Denny’s by 197.6% during the 2nd quarter. Mackenzie Financial Corp now owns 33,889 shares of the restaurant operator’s stock worth $424,000 after buying an additional 22,503 shares during the period. Institutional investors and hedge funds own 84.50% of the company’s stock.

Denny’s Stock Performance

NASDAQ:DENN opened at $9.73 on Friday. The company has a 50-day moving average of $8.71 and a 200-day moving average of $10.21. The company has a market capitalization of $516.47 million, a price-to-earnings ratio of 18.71, a PEG ratio of 1.76 and a beta of 1.87. Denny’s Co. has a 52 week low of $8.11 and a 52 week high of $13.00.

Denny’s (NASDAQ:DENN) last released its quarterly earnings data on Monday, October 30th. The restaurant operator reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $114.18 million during the quarter, compared to the consensus estimate of $116.86 million. Denny’s had a net margin of 6.35% and a negative return on equity of 88.90%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS. Sell-side analysts forecast that Denny’s Co. will post 0.61 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on DENN. Wedbush reaffirmed a “neutral” rating and set a $10.00 price objective on shares of Denny’s in a report on Tuesday, October 31st. Benchmark reduced their price target on shares of Denny’s from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, August 2nd. Truist Financial reduced their price target on shares of Denny’s from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Citigroup reduced their price target on shares of Denny’s from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, October 16th. Finally, StockNews.com began coverage on shares of Denny’s in a report on Thursday, October 5th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.33.

Insider Buying and Selling

In related news, Director John C. Miller sold 6,583 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $9.50, for a total transaction of $62,538.50. Following the completion of the sale, the director now owns 963,634 shares in the company, valued at approximately $9,154,523. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John C. Miller sold 6,583 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $9.50, for a total transaction of $62,538.50. Following the completion of the sale, the director now owns 963,634 shares in the company, valued at approximately $9,154,523. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen C. Dunn sold 45,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $8.83, for a total transaction of $397,350.00. Following the completion of the sale, the executive vice president now owns 67,496 shares of the company’s stock, valued at approximately $595,989.68. The disclosure for this sale can be found here. Insiders sold 216,483 shares of company stock worth $1,987,916 in the last quarter. 5.50% of the stock is owned by corporate insiders.

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 brand in the United States and internationally. The company operates in two segments: Denny's and Other. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.