Spark Investment Management LLC lowered its stake in Denny’s Corporation (NASDAQ:DENN) by 53.4% during the second quarter, Holdings Channel reports. The firm owned 81,100 shares of the restaurant operator’s stock after selling 92,800 shares during the period. Spark Investment Management LLC’s holdings in Denny’s Corporation were worth $954,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Citadel Advisors LLC bought a new stake in shares of Denny’s Corporation during the first quarter valued at about $162,000. TFS Capital LLC acquired a new position in Denny’s Corporation during the first quarter valued at $489,000. Bank of America Corp DE boosted its position in Denny’s Corporation by 5.1% in the first quarter. Bank of America Corp DE now owns 509,049 shares of the restaurant operator’s stock valued at $6,297,000 after buying an additional 24,487 shares in the last quarter. Teza Capital Management LLC acquired a new position in Denny’s Corporation during the first quarter valued at $250,000. Finally, Paloma Partners Management Co acquired a new position in Denny’s Corporation during the first quarter valued at $283,000. Institutional investors and hedge funds own 92.62% of the company’s stock.

Denny’s Corporation (NASDAQ:DENN) opened at 12.03 on Friday. Denny’s Corporation has a 52-week low of $10.02 and a 52-week high of $14.25. The stock has a market cap of $808.12 million, a PE ratio of 23.59 and a beta of 0.61. The firm has a 50-day moving average price of $11.68 and a 200 day moving average price of $12.07.

Denny’s Corporation (NASDAQ:DENN) last posted its earnings results on Tuesday, August 1st. The restaurant operator reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. The business had revenue of $133.40 million during the quarter, compared to the consensus estimate of $131.62 million. Denny’s Corporation had a negative return on equity of 60.77% and a net margin of 7.34%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 EPS. On average, analysts forecast that Denny’s Corporation will post $0.56 earnings per share for the current fiscal year.

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DENN has been the topic of several research analyst reports. Wedbush reissued a “buy” rating on shares of Denny’s Corporation in a research report on Tuesday, June 6th. Nomura reissued a “hold” rating and issued a $12.00 price objective on shares of Denny’s Corporation in a research report on Wednesday, May 3rd. Instinet reissued a “neutral” rating and issued a $12.00 price objective (up previously from $11.00) on shares of Denny’s Corporation in a research report on Wednesday, May 3rd. Zacks Investment Research cut Denny’s Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, BidaskClub cut Denny’s Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.67.

Denny’s Corporation Company Profile

Denny’s Corporation (Denny’s) operates a franchised full-service restaurant chain. The Company, through its subsidiary, Denny’s, Inc, owns and operates the Denny’s brand. As of December 28, 2016, the Denny’s brand consisted of 1,733 franchised, licensed and Company-operated restaurants around the world, including 1,610 restaurants in the United States and 123 international locations.

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Institutional Ownership by Quarter for Denny`s Corporation (NASDAQ:DENN)

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