Barclays PLC Increases Position in Denny’s Co. (NASDAQ:DENN)

Barclays PLC grew its holdings in Denny’s Co. (NASDAQ:DENN) by 342.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,257 shares of the restaurant operator’s stock after purchasing an additional 63,668 shares during the quarter. Barclays PLC owned about 0.16% of Denny’s worth $531,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Quest Partners LLC purchased a new position in Denny’s during the second quarter worth approximately $25,000. Quarry LP increased its stake in shares of Denny’s by 161.5% in the 2nd quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 2,617 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Denny’s in the 2nd quarter worth $31,000. Sanctuary Advisors LLC purchased a new position in shares of Denny’s during the 2nd quarter worth $77,000. Finally, FMR LLC boosted its position in shares of Denny’s by 95.2% during the 3rd quarter. FMR LLC now owns 12,239 shares of the restaurant operator’s stock valued at $79,000 after acquiring an additional 5,970 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DENN. Truist Financial cut their price objective on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Citigroup raised shares of Denny’s from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.00 to $7.50 in a research report on Friday, October 25th. Oppenheimer decreased their price objective on Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Wedbush cut their target price on Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, StockNews.com raised Denny’s from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.70.

Denny’s Stock Performance

Denny’s stock opened at $6.27 on Friday. The company has a market capitalization of $321.83 million, a PE ratio of 19.00, a price-to-earnings-growth ratio of 1.33 and a beta of 2.01. Denny’s Co. has a fifty-two week low of $5.37 and a fifty-two week high of $11.16. The firm has a 50 day moving average price of $6.38 and a 200 day moving average price of $6.47.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings data on Tuesday, October 22nd. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $111.76 million during the quarter, compared to analysts’ expectations of $115.46 million. Denny’s had a net margin of 3.90% and a negative return on equity of 48.64%. Denny’s’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. As a group, equities research analysts forecast that Denny’s Co. will post 0.52 earnings per share for the current 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.