The Manufacturers Life Insurance Company Buys 1,694 Shares of Denny’s Co. (NASDAQ:DENN)

The Manufacturers Life Insurance Company raised its stake in Denny’s Co. (NASDAQ:DENN) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,130 shares of the restaurant operator’s stock after acquiring an additional 1,694 shares during the period. The Manufacturers Life Insurance Company’s holdings in Denny’s were worth $150,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Quest Partners LLC purchased a new position in shares of Denny’s in the second quarter valued at $25,000. CWM LLC lifted its position in Denny’s by 726.2% during the second 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 last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Denny’s in the 2nd quarter worth $31,000. XTX Topco Ltd bought a new stake in shares of Denny’s in the 2nd quarter worth about $90,000. Finally, Boston Partners purchased a new stake in shares of Denny’s during the 1st quarter valued at about $193,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DENN. Citigroup decreased their price objective on Denny’s from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Benchmark restated a “buy” rating and issued a $15.00 price target on shares of Denny’s in a research report on Wednesday, July 31st. Oppenheimer cut their price objective on shares of Denny’s from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Truist Financial reduced their target price on shares of Denny’s from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Wedbush dropped 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Denny’s currently has an average rating of “Moderate Buy” and an average price target of $10.00.

Denny’s Trading Down 0.6 %

Shares of DENN stock opened at $6.65 on Friday. Denny’s Co. has a 12-month low of $5.59 and a 12-month high of $11.16. The business’s 50 day moving average is $6.30 and its two-hundred day moving average is $7.01. The company has a market capitalization of $345.93 million, a P/E ratio of 15.47, a P/E/G ratio of 1.29 and a beta of 2.02.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, July 30th. The restaurant operator reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). The firm had revenue of $115.90 million during 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 EPS. On average, research analysts predict that Denny’s Co. will post 0.55 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.