Olstein Capital Management L.P. Has $3.57 Million Stake in Denny’s Co. (NASDAQ:DENN)

Olstein Capital Management L.P. raised its stake in shares of Denny’s Co. (NASDAQ:DENN) by 6.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 973,000 shares of the restaurant operator’s stock after acquiring an additional 56,600 shares during the quarter. Olstein Capital Management L.P.’s holdings in Denny’s were worth $3,571,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in DENN. Park Avenue Securities LLC bought a new stake in shares of Denny’s in the first quarter valued at about $40,000. Quarry LP raised its holdings in Denny’s by 178.4% in the 4th quarter. Quarry LP now owns 9,618 shares of the restaurant operator’s stock valued at $58,000 after acquiring an additional 6,163 shares in the last quarter. Marshall Wace LLP acquired a new position in Denny’s in the 4th quarter valued at approximately $61,000. RPO LLC bought a new stake in shares of Denny’s in the 4th quarter worth approximately $63,000. Finally, ProShare Advisors LLC bought a new stake in shares of Denny’s in the 4th quarter worth approximately $86,000. Institutional investors own 85.07% of the company’s stock.

Denny’s Trading Up 3.6%

DENN stock opened at $4.03 on Monday. Denny’s Co. has a 1-year low of $2.85 and a 1-year high of $7.73. The business’s 50 day moving average is $3.69 and its 200-day moving average is $4.90. The firm has a market cap of $206.54 million, a P/E ratio of 9.83 and a beta of 1.64.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings results on Monday, May 5th. The restaurant operator reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. Denny’s had a negative return on equity of 50.01% and a net margin of 4.77%. The business had revenue of $111.64 million for the quarter, compared to analyst estimates of $110.11 million. During the same quarter in the previous year, the firm earned $0.11 EPS. Denny’s’s quarterly revenue was up 1.5% on a year-over-year basis. Sell-side analysts forecast that Denny’s Co. will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DENN shares. Oppenheimer lowered their price objective on Denny’s from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. Citigroup decreased their price target on shares of Denny’s from $7.00 to $6.25 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Wedbush lowered their price target on shares of Denny’s from $10.00 to $8.50 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler dropped their price objective on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.46.

Denny’s 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.