Allspring Global Investments Holdings LLC Raises Position in Denny’s Co. (NASDAQ:DENN)

Allspring Global Investments Holdings LLC grew its position in Denny’s Co. (NASDAQ:DENN) by 6.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,634,514 shares of the restaurant operator’s stock after buying an additional 558,964 shares during the period. Allspring Global Investments Holdings LLC owned approximately 16.60% of Denny’s worth $55,693,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DENN. Millennium Management LLC raised its holdings in Denny’s by 1,487.7% in the second quarter. Millennium Management LLC now owns 531,530 shares of the restaurant operator’s stock worth $3,774,000 after buying an additional 498,051 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Denny’s by 14.1% in the second quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock worth $8,938,000 after buying an additional 155,100 shares during the last quarter. Skylands Capital LLC raised 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 worth $1,839,000 after buying an additional 152,700 shares during the last quarter. Vanguard Group Inc. raised 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 worth $29,885,000 after buying an additional 89,465 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Denny’s by 63.8% in the second quarter. AQR Capital Management LLC now owns 216,694 shares of the restaurant operator’s stock worth $1,539,000 after buying an additional 84,371 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DENN has been the subject of a number of research analyst reports. Benchmark reiterated a “buy” rating and issued a $15.00 price target on shares of Denny’s in a research note on Wednesday, July 31st. Oppenheimer reduced their price target on shares of Denny’s from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Citigroup reduced their price target on shares of Denny’s from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Truist Financial reduced their price target on shares of Denny’s from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, Wedbush reduced their price target on shares of Denny’s from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.00.

Denny’s Trading Down 0.2 %

Shares of NASDAQ DENN opened at $6.64 on Tuesday. The firm has a 50 day moving average of $6.30 and a 200 day moving average of $7.00. The firm has a market capitalization of $345.41 million, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.35 and a beta of 2.02. Denny’s Co. has a 12-month low of $5.59 and a 12-month high of $11.16.

Denny’s (NASDAQ:DENN) last announced its earnings results on Tuesday, July 30th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.04). The business had revenue of $115.90 million for the quarter, compared to the consensus estimate of $118.98 million. Denny’s had a net margin of 4.19% and a negative return on equity of 57.37%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. Sell-side analysts predict 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.