Allspring Global Investments Holdings LLC Has $57.34 Million Position in Denny’s Co. (NASDAQ:DENN)

Allspring Global Investments Holdings LLC raised its stake in Denny’s Co. (NASDAQ:DENN) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,075,550 shares of the restaurant operator’s stock after buying an additional 16,658 shares during the period. Allspring Global Investments Holdings LLC owned about 15.52% of Denny’s worth $57,336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CWM LLC increased its position in Denny’s by 726.2% during the 2nd quarter. CWM LLC now owns 3,685 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 3,239 shares during the period. Quadrant Capital Group LLC lifted its holdings in Denny’s by 126.7% in the fourth quarter. Quadrant Capital Group LLC now owns 4,538 shares of the restaurant operator’s stock valued at $49,000 after buying an additional 2,536 shares during the period. Quest Partners LLC bought a new stake in Denny’s during the fourth quarter valued at $96,000. Trexquant Investment LP acquired a new stake in Denny’s during the 4th quarter worth about $136,000. Finally, Boston Partners bought a new position in shares of Denny’s during the 1st quarter worth approximately $193,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

DENN has been the topic of several research reports. Benchmark reiterated a “buy” rating and set a $15.00 price objective on shares of Denny’s in a report on Wednesday, July 31st. StockNews.com downgraded Denny’s from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Truist Financial cut their price target on Denny’s from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Oppenheimer lowered their target price on Denny’s from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Wedbush decreased 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Denny’s has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Insiders Place Their Bets

In related news, CFO Robert P. Verostek bought 10,000 shares of Denny’s stock in a transaction dated Friday, June 14th. The stock was purchased at an average cost of $6.53 per share, with a total value of $65,300.00. Following the transaction, the chief financial officer now directly owns 24,000 shares of the company’s stock, valued at $156,720. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Denny’s news, CAO Jay C. Gilmore bought 12,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $6.51 per share, for a total transaction of $78,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 121,227 shares of the company’s stock, valued at $789,187.77. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert P. Verostek purchased 10,000 shares of the stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $6.53 per share, for a total transaction of $65,300.00. Following the transaction, the chief financial officer now owns 24,000 shares of the company’s stock, valued at $156,720. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.

Denny’s Stock Performance

Denny’s stock opened at $6.29 on Wednesday. Denny’s Co. has a fifty-two week low of $5.59 and a fifty-two week high of $11.16. The firm’s 50-day simple moving average is $6.69 and its 200 day simple moving average is $7.74. The stock has a market cap of $327.20 million, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.24 and a beta of 2.01.

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 analysts’ expectations of $118.98 million. Denny’s had a net margin of 4.19% and a negative return on equity of 57.37%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. As a group, analysts predict that Denny’s Co. will post 0.55 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.