Denny’s Co. (NASDAQ:DENN) Holdings Trimmed by Wellington Management Group LLP

Wellington Management Group LLP lowered its holdings in Denny’s Co. (NASDAQ:DENN) by 58.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,291,369 shares of the restaurant operator’s stock after selling 1,785,323 shares during the period. Wellington Management Group LLP’s holdings in Denny’s were worth $8,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DENN. Hotchkis & Wiley Capital Management LLC lifted its stake in Denny’s by 73.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,381,120 shares of the restaurant operator’s stock worth $8,908,000 after acquiring an additional 583,660 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Denny’s by 6.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator’s stock valued at $55,693,000 after purchasing an additional 558,964 shares during the period. Millennium Management LLC boosted its holdings in shares of Denny’s by 1,487.7% during the second quarter. Millennium Management LLC now owns 531,530 shares of the restaurant operator’s stock worth $3,774,000 after purchasing an additional 498,051 shares during the period. Access Investment Management LLC purchased a new position in Denny’s during the third quarter valued at approximately $1,387,000. Finally, First Eagle Investment Management LLC lifted its position in Denny’s by 14.1% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DENN. Oppenheimer dropped their price target on shares of Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial dropped their price objective on Denny’s from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Wedbush decreased their target price on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Benchmark reduced their price objective on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com upgraded Denny’s from a “hold” rating to a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.70.

Denny’s Price Performance

Shares of NASDAQ:DENN opened at $6.27 on Monday. The stock has a market capitalization of $321.84 million, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 1.33 and a beta of 2.01. The business’s fifty day moving average price is $6.44 and its two-hundred day moving average price is $6.56. Denny’s Co. has a fifty-two week low of $5.37 and a fifty-two week high of $11.16.

Denny’s (NASDAQ:DENN) last posted its earnings results on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny’s had a negative return on equity of 48.64% and a net margin of 3.90%. The firm had revenue of $111.76 million during the quarter, compared to the consensus estimate of $115.46 million. During the same period in the previous year, the company posted $0.17 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Research analysts expect that Denny’s Co. will post 0.52 EPS for the current fiscal 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.