Renaissance Technologies LLC lowered its stake in shares of Denny’s Co. (NASDAQ:DENN – Free Report) by 66.5% in the second quarter, Holdings Channel.com reports. The firm owned 46,923 shares of the restaurant operator’s stock after selling 93,200 shares during the period. Renaissance Technologies LLC’s holdings in Denny’s were worth $333,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in DENN. Rice Hall James & Associates LLC boosted its stake in shares of Denny’s by 3.8% in the 2nd quarter. Rice Hall James & Associates LLC now owns 76,010 shares of the restaurant operator’s stock worth $540,000 after buying an additional 2,775 shares during the last quarter. CWM LLC boosted its stake in shares of Denny’s by 726.2% in the 2nd quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock worth $26,000 after buying an additional 3,239 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Denny’s in the 2nd quarter worth approximately $25,000. BNP Paribas Financial Markets boosted its stake in shares of Denny’s by 20.7% in the 1st quarter. BNP Paribas Financial Markets now owns 42,593 shares of the restaurant operator’s stock worth $382,000 after buying an additional 7,309 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Denny’s by 87.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 29,189 shares of the restaurant operator’s stock worth $262,000 after buying an additional 13,600 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.
Denny’s Trading Up 5.1 %
Denny’s stock opened at $6.34 on Friday. Denny’s Co. has a 12 month low of $5.59 and a 12 month high of $11.16. The business’s 50 day simple moving average is $6.23 and its 200 day simple moving average is $7.10. The company has a market cap of $325.69 million, a price-to-earnings ratio of 18.11, a PEG ratio of 1.22 and a beta of 2.02.
Analysts Set New Price Targets
DENN has been the topic of a number of research analyst reports. Benchmark restated a “buy” rating and issued a $15.00 target price on shares of Denny’s in a research note on Wednesday, July 31st. Oppenheimer cut their target price on Denny’s from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Wedbush cut their target price on Denny’s from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Truist Financial dropped their price objective on Denny’s from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.40.
Check Out Our Latest Stock Report on Denny’s
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 brands in the United States and internationally. The company was formerly known as Advantica Restaurant Group, Inc and changed its name to Denny's Corporation in July 2002.
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