Vanguard Group Inc. Has $27.72 Million Position in Denny’s Co. (NASDAQ:DENN)

Vanguard Group Inc. boosted its stake in shares of Denny’s Co. (NASDAQ:DENN) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,273,187 shares of the restaurant operator’s stock after acquiring an additional 108,758 shares during the period. Vanguard Group Inc. owned 0.06% of Denny’s worth $27,724,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in shares of Denny’s during the 1st quarter worth approximately $29,000. Metropolitan Life Insurance Co NY raised its position in Denny’s by 31.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,535 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 844 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Denny’s by 100.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,317 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 1,665 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Denny’s by 37.3% in the 1st quarter. First Horizon Advisors Inc. now owns 3,920 shares of the restaurant operator’s stock valued at $44,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Denny’s in the 3rd quarter valued at $65,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Denny’s

In related news, Director John C. Miller sold 35,359 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $9.25, for a total value of $327,070.75. Following the completion of the sale, the director now directly owns 740,626 shares in the company, valued at $6,850,790.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DENN. StockNews.com upgraded Denny’s from a “hold” rating to a “buy” rating in a research report on Wednesday. Wedbush dropped their target price on shares of Denny’s from $11.00 to $10.50 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Oppenheimer reduced their price target on shares of Denny’s from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Finally, Truist Financial dropped their price objective on shares of Denny’s from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.92.

Denny’s Trading Down 1.1 %

Shares of DENN stock opened at $8.41 on Friday. The firm has a market capitalization of $446.57 million, a price-to-earnings ratio of 24.03, a PEG ratio of 1.46 and a beta of 1.93. The business’s 50-day moving average price is $9.15 and its 200-day moving average price is $9.52. Denny’s Co. has a 12 month low of $8.11 and a 12 month high of $12.53.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings data on Tuesday, February 13th. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). Denny’s had a net margin of 4.30% and a negative return on equity of 70.78%. The business had revenue of $115.40 million during the quarter, compared to the consensus estimate of $115.67 million. During the same quarter last year, the business earned $0.18 EPS. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. On average, sell-side analysts predict that Denny’s Co. will post 0.64 earnings per share for the current fiscal year.

About Denny’s

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.