Today: Today, California Public Employees Retirement System Cuts Stake in Denny’s Corp. (DENN)

Today, California Public Employees Retirement System Cuts Stake in Denny’s Corp. (DENN)

California Public Employees Retirement System lowered its position in Denny’s Corp. (NASDAQ:DENN) by 5.3% during the third quarter, Holdings Channel reports. The fund owned 421,100 shares of the company’s stock after selling 23,500 shares during the period. California Public Employees Retirement System owned about 0.56% of Denny’s Corp. worth $4,502,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rice Hall James & Associates LLC raised its stake in Denny’s Corp. by 1.1% in the third quarter. Rice Hall James & Associates LLC now owns 12,831 shares of the company’s stock worth $137,000 after buying an additional 143 shares during the last quarter. 1st Global Advisors Inc. raised its stake in Denny’s Corp. by 38.4% in the third quarter. 1st Global Advisors Inc. now owns 17,852 shares of the company’s stock worth $191,000 after buying an additional 4,952 shares during the last quarter. Bank of Montreal Can raised its stake in Denny’s Corp. by 36.4% in the third quarter. Bank of Montreal Can now owns 749,508 shares of the company’s stock worth $8,012,000 after buying an additional 199,936 shares during the last quarter. North Star Investment Management Corp. raised its stake in Denny’s Corp. by 2.9% in the third quarter. North Star Investment Management Corp. now owns 179,807 shares of the company’s stock worth $1,922,000 after buying an additional 5,000 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Denny’s Corp. by 8.6% in the second quarter. Royal Bank of Canada now owns 9,341 shares of the company’s stock worth $100,000 after buying an additional 737 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Shares of Denny’s Corp. (NASDAQ:DENN) traded up 1.44% during midday trading on Friday, hitting $12.67. 173,434 shares of the company were exchanged. The company has a 50-day moving average price of $11.07 and a 200-day moving average price of $10.88. The stock has a market capitalization of $929.56 billion, a price-to-earnings ratio of 66.68 and a beta of 0.47. Denny’s Corp. has a 52-week low of $8.71 and a 52-week high of $12.81.

Denny’s Corp. (NASDAQ:DENN) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The business earned $128.39 million during the quarter, compared to the consensus estimate of $127.97 million. Denny’s Corp. had a negative return on equity of 68.96% and a net margin of 3.37%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 EPS. On average, analysts forecast that Denny’s Corp. will post $0.51 EPS for the current year.

A number of equities research analysts have recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $14.00 target price on shares of Denny’s Corp. in a report on Saturday, October 15th. Zacks Investment Research lowered shares of Denny’s Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th.

In related news, Director Debra Smithart-Oglesby sold 20,950 shares of Denny’s Corp. stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $12.28, for a total transaction of $257,266.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP F Mark Wolfinger sold 42,100 shares of Denny’s Corp. stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $12.28, for a total value of $516,988.00. Following the sale, the executive vice president now owns 661,951 shares of the company’s stock, valued at approximately $8,128,758.28. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

About Denny’s Corp.

Denny’s Corporation (Denny’s) is a franchised service restaurant chain. The Company, through its subsidiary, Denny’s, Inc, owns and operates the Denny’s brand. The Denny’s brand consists of approximately 1,710 franchised, licensed and company operated restaurants around the world, including over 1,600 restaurants in the United States and over 110 international locations.

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