First Eagle Investment Management LLC Acquires 110,722 Shares of Denny’s Corporation $DENN

First Eagle Investment Management LLC grew its holdings in shares of Denny’s Corporation (NASDAQ:DENN) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,949,248 shares of the restaurant operator’s stock after acquiring an additional 110,722 shares during the period. First Eagle Investment Management LLC owned about 3.80% of Denny’s worth $7,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC lifted its position in Denny’s by 217.7% during the first quarter. CWM LLC now owns 6,725 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 4,608 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Denny’s in the first quarter worth about $41,000. Gilbert & Cook Inc. bought a new position in shares of Denny’s in the first quarter worth about $44,000. Bank of Montreal Can purchased a new position in shares of Denny’s during the 2nd quarter valued at about $48,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Denny’s during the 2nd quarter valued at approximately $67,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Denny’s Stock Performance

DENN stock opened at $6.11 on Friday. The company’s fifty day moving average price is $5.04 and its 200-day moving average price is $4.40. Denny’s Corporation has a one year low of $2.85 and a one year high of $7.66. The company has a market capitalization of $314.66 million, a PE ratio of 19.71 and a beta of 1.60.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Monday, November 3rd. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The company had revenue of $113.24 million during the quarter, compared to the consensus estimate of $116.91 million. Denny’s had a net margin of 3.53% and a negative return on equity of 59.51%. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The business’s revenue was up 202.6% on a year-over-year basis. On average, research analysts predict that Denny’s Corporation will post 0.5 EPS for the current fiscal year.

Insider Activity

In other news, insider Jumana Capital Investments Llc bought 250,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average cost of $4.08 per share, for a total transaction of $1,020,000.00. Following the completion of the transaction, the insider owned 4,524,905 shares of the company’s stock, valued at approximately $18,461,612.40. This represents a 5.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 433,307 shares of company stock valued at $1,945,837 over the last quarter. Insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Mizuho raised shares of Denny’s to a “hold” rating in a report on Tuesday, October 28th. Oppenheimer cut shares of Denny’s from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Truist Financial restated a “hold” rating and set a $6.00 price objective on shares of Denny’s in a research report on Tuesday. Piper Sandler set a $4.00 target price on shares of Denny’s and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Finally, Benchmark lowered Denny’s from a “buy” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.96.

Denny’s Company Profile

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.