Allspring Global Investments Holdings LLC Trims Holdings in Denny’s Corporation $DENN

Allspring Global Investments Holdings LLC trimmed its position in Denny’s Corporation (NASDAQ:DENN) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,065,968 shares of the restaurant operator’s stock after selling 119,561 shares during the quarter. Allspring Global Investments Holdings LLC owned about 15.74% of Denny’s worth $36,458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DENN. Boston Partners increased its holdings in Denny’s by 51.3% in the 1st quarter. Boston Partners now owns 2,521,085 shares of the restaurant operator’s stock worth $9,250,000 after acquiring an additional 855,192 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Denny’s by 63.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 828,571 shares of the restaurant operator’s stock worth $3,041,000 after acquiring an additional 321,877 shares in the last quarter. North Star Investment Management Corp. increased its holdings in Denny’s by 1,196.7% in the 2nd quarter. North Star Investment Management Corp. now owns 272,300 shares of the restaurant operator’s stock worth $1,116,000 after acquiring an additional 251,300 shares in the last quarter. Earnest Partners LLC boosted its stake in Denny’s by 16.2% in the 1st quarter. Earnest Partners LLC now owns 1,561,053 shares of the restaurant operator’s stock worth $5,729,000 after purchasing an additional 218,019 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Denny’s by 116.0% in the 1st quarter. AQR Capital Management LLC now owns 365,159 shares of the restaurant operator’s stock worth $1,340,000 after purchasing an additional 196,118 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on DENN shares. Weiss Ratings restated a “sell (d+)” rating on shares of Denny’s in a research note on Wednesday, October 8th. Benchmark dropped their price target on Denny’s from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Finally, Piper Sandler set a $4.00 price target on Denny’s and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $6.46.

Denny’s Stock Performance

NASDAQ DENN opened at $5.02 on Thursday. The company has a market capitalization of $258.53 million, a P/E ratio of 16.19 and a beta of 1.63. Denny’s Corporation has a one year low of $2.85 and a one year high of $7.73. The stock has a 50 day moving average price of $4.75 and a 200-day moving average price of $4.18.

Denny’s (NASDAQ:DENN) last posted its earnings results on Monday, August 4th. The restaurant operator reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $117.66 million for the quarter, compared to the consensus estimate of $118.14 million. Denny’s had a net margin of 3.53% and a negative return on equity of 59.51%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 earnings per share. As a group, equities analysts predict that Denny’s Corporation will post 0.5 EPS for the current fiscal year.

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.