Envestnet Asset Management Inc. Has $4.31 Million Stock Holdings in Denny’s Co. (NASDAQ:DENN)

Envestnet Asset Management Inc. cut its holdings in Denny’s Co. (NASDAQ:DENN) by 8.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 607,131 shares of the restaurant operator’s stock after selling 52,626 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Denny’s were worth $4,311,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Denny’s by 2.8% in the first quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock valued at $29,885,000 after acquiring an additional 89,465 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Denny’s by 15.3% in the first quarter. First Eagle Investment Management LLC now owns 1,103,727 shares of the restaurant operator’s stock valued at $9,889,000 after acquiring an additional 146,658 shares during the last quarter. Olstein Capital Management L.P. boosted its holdings in Denny’s by 9.9% in the second quarter. Olstein Capital Management L.P. now owns 896,400 shares of the restaurant operator’s stock valued at $6,364,000 after acquiring an additional 80,587 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Denny’s by 19.9% in the first quarter. Russell Investments Group Ltd. now owns 267,357 shares of the restaurant operator’s stock valued at $2,396,000 after acquiring an additional 44,414 shares during the last quarter. Finally, Skylands Capital LLC boosted its holdings in Denny’s by 143.7% in the second quarter. Skylands Capital LLC now owns 259,000 shares of the restaurant operator’s stock valued at $1,839,000 after acquiring an additional 152,700 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

DENN has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $15.00 target price on shares of Denny’s in a report on Wednesday, July 31st. Wedbush reduced their target price on Denny’s from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Truist Financial reduced their target price on Denny’s from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Oppenheimer reduced their target price on Denny’s from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Denny’s has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Denny’s Stock Up 2.0 %

Shares of DENN opened at $6.58 on Wednesday. Denny’s Co. has a 12-month low of $5.59 and a 12-month high of $11.16. The business has a 50-day simple moving average of $6.40 and a two-hundred day simple moving average of $7.23. The stock has a market cap of $342.29 million, a PE ratio of 15.30, a PEG ratio of 1.35 and a beta of 2.02.

Denny’s (NASDAQ:DENN) last released its quarterly earnings results on Tuesday, July 30th. The restaurant operator reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Denny’s had a net margin of 4.19% and a negative return on equity of 57.37%. The company had revenue of $115.90 million during the quarter, compared to the consensus estimate of $118.98 million. During the same quarter last year, the firm posted $0.14 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. On average, equities research analysts expect that Denny’s Co. will post 0.55 EPS for the current year.

Denny’s Company Profile

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.