Cullen Capital Management LLC Sells 62,049 Shares of Denny’s Co. (NASDAQ:DENN)

Cullen Capital Management LLC decreased its position in Denny’s Co. (NASDAQ:DENN) by 52.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,035 shares of the restaurant operator’s stock after selling 62,049 shares during the quarter. Cullen Capital Management LLC owned about 0.11% of Denny’s worth $345,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in DENN. Boston Partners grew its holdings in Denny’s by 2,820.6% in the 4th quarter. Boston Partners now owns 1,665,893 shares of the restaurant operator’s stock valued at $10,081,000 after buying an additional 1,608,854 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Denny’s by 19.7% in the fourth quarter. First Eagle Investment Management LLC now owns 1,665,680 shares of the restaurant operator’s stock valued at $10,077,000 after acquiring an additional 274,459 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Denny’s by 20.7% in 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Denny’s by 24.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,265,381 shares of the restaurant operator’s stock worth $7,656,000 after acquiring an additional 251,874 shares during the period. Finally, Geode Capital Management LLC raised its stake in Denny’s by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,187,850 shares of the restaurant operator’s stock worth $7,188,000 after purchasing an additional 6,971 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at Denny’s

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

Denny’s Stock Down 0.6 %

Shares of DENN stock opened at $3.43 on Friday. The business has a fifty day simple moving average of $4.89 and a 200 day simple moving average of $5.82. The company has a market cap of $177.03 million, a P/E ratio of 8.37 and a beta of 1.87. Denny’s Co. has a twelve month low of $3.16 and a twelve month high of $8.83.

Denny’s (NASDAQ:DENN) last posted its 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 negative return on equity of 50.01% and a net margin of 4.77%. As a group, equities research analysts anticipate that Denny’s Co. will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. 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. Oppenheimer reduced their price target on Denny’s from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Citigroup dropped their price objective on Denny’s from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, February 13th. StockNews.com lowered Denny’s from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Wedbush dropped their price target on Denny’s from $10.00 to $8.50 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Denny’s presently has an average rating of “Moderate Buy” and an average price target of $7.75.

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.