Quarry LP Buys 6,163 Shares of Denny’s Co. (NASDAQ:DENN)

Quarry LP increased its position in shares of Denny’s Co. (NASDAQ:DENN) by 178.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,618 shares of the restaurant operator’s stock after buying an additional 6,163 shares during the quarter. Quarry LP’s holdings in Denny’s were worth $58,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in shares of Denny’s during the 4th quarter worth approximately $61,000. RPO LLC bought a new position in Denny’s in the fourth quarter worth $63,000. Boothbay Fund Management LLC acquired a new stake in Denny’s during the fourth quarter worth $120,000. Two Sigma Securities LLC bought a new stake in Denny’s in the 4th quarter valued at $121,000. Finally, SG Americas Securities LLC raised its stake in shares of Denny’s by 25.3% in the 4th quarter. SG Americas Securities LLC now owns 23,272 shares of the restaurant operator’s stock valued at $141,000 after buying an additional 4,704 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Denny’s

In related news, EVP Stephen C. Dunn purchased 9,815 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average price of $5.08 per share, with a total value of $49,860.20. Following the completion of the acquisition, the executive vice president now directly owns 113,666 shares in the company, valued at approximately $577,423.28. This trade represents a 9.45 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kelli Valade acquired 9,700 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average price of $5.13 per share, with a total value of $49,761.00. Following the transaction, the chief executive officer now directly owns 192,806 shares in the company, valued at $989,094.78. The trade was a 5.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 20,465 shares of company stock worth $104,457. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DENN shares. Piper Sandler decreased their target price on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 18th. Wedbush lowered their price objective on Denny’s from $10.00 to $8.50 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Citigroup dropped their target price on Denny’s from $7.00 to $6.25 and set a “buy” rating for the company in a report on Thursday, April 24th. Oppenheimer decreased their price target on Denny’s from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com lowered Denny’s from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.63.

Denny’s Price Performance

Shares of DENN opened at $3.71 on Friday. The business’s 50 day simple moving average is $3.77 and its 200-day simple moving average is $5.37. Denny’s Co. has a one year low of $2.85 and a one year high of $8.30. The company has a market capitalization of $190.98 million, a P/E ratio of 9.05 and a beta of 1.87.

Denny’s (NASDAQ:DENN) last announced its earnings results on Wednesday, February 12th. The restaurant operator reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny’s had a negative return on equity of 50.01% and a net margin of 4.77%. On average, sell-side analysts anticipate that Denny’s Co. will post 0.5 EPS for the current fiscal year.

About Denny’s

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.