Cullen Capital Management LLC Has $345,000 Position in Denny’s Co. (NASDAQ:DENN)

Cullen Capital Management LLC decreased its stake in Denny’s Co. (NASDAQ:DENN) by 52.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,035 shares of the restaurant operator’s stock after selling 62,049 shares during the period. Cullen Capital Management LLC’s holdings in Denny’s were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in DENN. RPO LLC acquired a new stake in Denny’s during the 4th quarter valued at approximately $63,000. ExodusPoint Capital Management LP acquired a new stake in shares of Denny’s during the fourth quarter worth $533,000. Trexquant Investment LP raised its stake in Denny’s by 50.5% during the fourth quarter. Trexquant Investment LP now owns 75,079 shares of the restaurant operator’s stock worth $454,000 after buying an additional 25,200 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Denny’s by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,187,850 shares of the restaurant operator’s stock valued at $7,188,000 after buying an additional 6,971 shares during the period. Finally, Wellington Management Group LLP boosted its position in Denny’s by 20.7% during the fourth quarter. Wellington Management Group LLP now owns 1,559,063 shares of the restaurant operator’s stock valued at $9,432,000 after acquiring an additional 267,694 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Kelli Valade acquired 9,700 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of $5.13 per share, for a total transaction of $49,761.00. Following the purchase, the chief executive officer now owns 192,806 shares in the company, valued at approximately $989,094.78. This represents a 5.30 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephen C. Dunn bought 9,815 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average price of $5.08 per share, for a total transaction of $49,860.20. Following the purchase, the executive vice president now directly owns 113,666 shares in the company, valued at approximately $577,423.28. The trade was a 9.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 20,465 shares of company stock worth $104,457 over the last quarter. Insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DENN shares. Wedbush dropped 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 cut their price target on Denny’s from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. StockNews.com downgraded shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Oppenheimer dropped their target price on shares of Denny’s from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Piper Sandler reduced their price target on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Denny’s Stock Performance

Shares of DENN opened at $3.43 on Friday. Denny’s Co. has a 52 week low of $3.16 and a 52 week high of $8.83. The stock has a 50 day moving average price of $4.89 and a two-hundred day moving average price of $5.82. The firm has a market capitalization of $177.03 million, a P/E ratio of 8.37 and a beta of 1.87.

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

Denny’s Company 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.