Millennium Management LLC Grows Stock Holdings in Denny’s Co. (NASDAQ:DENN)

Millennium Management LLC lifted its position in shares of Denny’s Co. (NASDAQ:DENN) by 203.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,843 shares of the restaurant operator’s stock after acquiring an additional 22,700 shares during the period. Millennium Management LLC owned approximately 0.07% of Denny’s worth $205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Denny’s by 4.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 63,166 shares of the restaurant operator’s stock valued at $383,000 after acquiring an additional 2,408 shares in the last quarter. Access Investment Management LLC increased its position in shares of Denny’s by 1.5% during the fourth quarter. Access Investment Management LLC now owns 218,235 shares of the restaurant operator’s stock valued at $1,320,000 after acquiring an additional 3,135 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Denny’s by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 759,837 shares of the restaurant operator’s stock valued at $4,597,000 after acquiring an additional 3,538 shares in the last quarter. Quarry LP increased its position in shares of Denny’s by 178.4% during the fourth quarter. Quarry LP now owns 9,618 shares of the restaurant operator’s stock valued at $58,000 after acquiring an additional 6,163 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in Denny’s by 28.8% in the 4th quarter. MetLife Investment Management LLC now owns 31,124 shares of the restaurant operator’s stock worth $188,000 after purchasing an additional 6,958 shares during the period. Institutional investors own 85.07% of the company’s stock.

Denny’s Price Performance

Shares of DENN stock opened at $4.04 on Friday. Denny’s Co. has a 1 year low of $2.85 and a 1 year high of $7.73. The firm has a fifty day moving average price of $3.74 and a 200-day moving average price of $4.85. The company has a market cap of $207.05 million, a price-to-earnings ratio of 9.85 and a beta of 1.64.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings data on Monday, May 5th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. Denny’s had a net margin of 4.77% and a negative return on equity of 50.01%. The firm had revenue of $111.64 million during the quarter, compared to the consensus estimate of $110.11 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts expect that Denny’s Co. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Piper Sandler cut 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 Tuesday, February 18th. Citigroup cut their target price on shares of Denny’s from $7.00 to $6.25 and set a “buy” rating for the company in a research report on Thursday, April 24th. Oppenheimer cut their target price on shares of Denny’s from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Finally, Wedbush cut their target price on shares of Denny’s from $10.00 to $8.50 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $7.46.

Denny’s Company Profile

Denny’s Corp. engages in the operation of restaurants and franchised, and licensed restaurants. It operates through the Denny’s and Other segments. The Denny’s segment includes the results of all company and franchised and licensed Denny’s restaurants. The Other segment refers to the results of all company and franchise restaurants.