Categories
Finance SEC Filing Articles

Man Group plc Buys 60,067 Shares of Denny’s Corp (NASDAQ:DENN)

Man Group plc raised its holdings in shares of Denny’s Corp (NASDAQ:DENN) by 588.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,276 shares of the restaurant operator’s stock after buying an additional 60,067 shares during the quarter. Man Group plc owned about 0.12% of Denny’s worth $1,600,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. US Bancorp DE lifted its holdings in shares of Denny’s by 2.9% during the second quarter. US Bancorp DE now owns 68,491 shares of the restaurant operator’s stock worth $1,406,000 after buying an additional 1,961 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Denny’s during the second quarter worth approximately $4,451,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Denny’s by 317.1% during the second quarter. Cubist Systematic Strategies LLC now owns 59,098 shares of the restaurant operator’s stock worth $1,213,000 after buying an additional 44,929 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of Denny’s during the second quarter worth approximately $1,292,000. Finally, California Public Employees Retirement System lifted its holdings in shares of Denny’s by 16.2% during the third quarter. California Public Employees Retirement System now owns 252,729 shares of the restaurant operator’s stock worth $5,753,000 after buying an additional 35,180 shares during the last quarter. Institutional investors own 90.63% of the company’s stock.

Shares of NASDAQ DENN opened at $20.36 on Friday. The business has a fifty day simple moving average of $20.02 and a 200 day simple moving average of $21.41. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 3.32 and a beta of 0.05. Denny’s Corp has a one year low of $15.72 and a one year high of $23.88.

Denny’s (NASDAQ:DENN) last issued its earnings results on Tuesday, October 29th. The restaurant operator reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $124.30 million during the quarter, compared to analyst estimates of $126.62 million. Denny’s had a negative return on equity of 34.15% and a net margin of 18.80%. Denny’s’s revenue was down 21.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. On average, equities analysts anticipate that Denny’s Corp will post 0.69 EPS for the current year.

In related news, VP Stephen C. Dunn sold 58,332 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $19.51, for a total value of $1,138,057.32. Following the completion of the transaction, the vice president now directly owns 36,017 shares in the company, valued at $702,691.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.10% of the company’s stock.

DENN has been the subject of a number of research analyst reports. Zacks Investment Research lowered Denny’s from a “buy” rating to a “hold” rating in a report on Tuesday. Wedbush set a $25.00 price target on Denny’s and gave the stock a “buy” rating in a report on Friday, August 16th. CL King initiated coverage on Denny’s in a report on Tuesday, October 1st. They set a “buy” rating for the company. Maxim Group upgraded Denny’s from a “hold” rating to a “buy” rating and upped their price target for the stock from $23.00 to $26.00 in a report on Wednesday, December 4th. Finally, BidaskClub upgraded Denny’s from a “sell” rating to a “hold” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $24.33.

Denny’s Profile

Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.

Read More: What is the return on assets formula?

Institutional Ownership by Quarter for Denny`s (NASDAQ:DENN)