Denny’s Co. (NASDAQ:DENN) Shares Bought by Fmr LLC

Fmr LLC boosted its holdings in shares of Denny’s Co. (NASDAQ:DENN) by 95.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,239 shares of the restaurant operator’s stock after acquiring an additional 5,970 shares during the period. Fmr LLC’s holdings in Denny’s were worth $79,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in Denny’s by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 21,130 shares of the restaurant operator’s stock valued at $150,000 after buying an additional 1,694 shares during the last quarter. Creative Planning raised its stake in Denny’s by 6.4% in the third quarter. Creative Planning now owns 37,669 shares of the restaurant operator’s stock valued at $243,000 after buying an additional 2,273 shares in the last quarter. Quarry LP boosted its holdings in shares of Denny’s by 161.5% in the 2nd quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 2,617 shares in the last quarter. Rice Hall James & Associates LLC increased its position in Denny’s by 3.8% during the second quarter. Rice Hall James & Associates LLC now owns 76,010 shares of the restaurant operator’s stock worth $540,000 after buying an additional 2,775 shares during the period. Finally, Quest Partners LLC acquired a new position in Denny’s in the 2nd quarter valued at about $25,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on DENN. StockNews.com upgraded shares of Denny’s from a “hold” rating to a “buy” rating in a research report on Tuesday. Oppenheimer cut their price target on Denny’s from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Truist Financial dropped their price objective on Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, October 28th. Benchmark decreased 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, Citigroup upgraded Denny’s from a “neutral” rating to a “buy” rating and increased their target price for the company from $7.00 to $7.50 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.70.

Denny’s Price Performance

NASDAQ DENN opened at $5.77 on Tuesday. Denny’s Co. has a 12 month low of $5.37 and a 12 month high of $11.16. The company’s fifty day moving average price is $6.43 and its two-hundred day moving average price is $6.51. The company has a market capitalization of $296.17 million, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.33 and a beta of 2.01.

Denny’s (NASDAQ:DENN) last released its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $111.76 million during the quarter, compared to analyst estimates of $115.46 million. Denny’s had a negative return on equity of 48.64% and a net margin of 3.90%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 EPS. As a group, analysts anticipate that Denny’s Co. will post 0.52 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.