Denny’s Co. (NASDAQ:DENN) Shares Bought by Fmr LLC

Fmr LLC raised its holdings in shares of Denny’s Co. (NASDAQ:DENN) by 95.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,239 shares of the restaurant operator’s stock after purchasing an additional 5,970 shares during the period. Fmr LLC’s holdings in Denny’s were worth $79,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Quest Partners LLC purchased a new position in Denny’s during the 2nd quarter worth $25,000. Quarry LP boosted its holdings in Denny’s by 161.5% in the second quarter. Quarry LP now owns 4,237 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 2,617 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Denny’s during the second quarter worth about $31,000. Sanctuary Advisors LLC acquired a new position in shares of Denny’s during the second quarter valued at about $77,000. Finally, Intech Investment Management LLC purchased a new position in shares of Denny’s in the 3rd quarter valued at approximately $83,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

DENN has been the topic of several research analyst reports. Citigroup raised shares of Denny’s from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $7.00 to $7.50 in a research report on Friday, October 25th. Wedbush cut their target price on Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com upgraded Denny’s from a “hold” rating to a “buy” rating in a research note on Tuesday. Oppenheimer dropped their price target on Denny’s from $10.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Benchmark reduced their price objective on Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Denny’s has a consensus rating of “Moderate Buy” and an average target price of $7.70.

Denny’s Price Performance

DENN opened at $5.77 on Tuesday. The stock has a market cap of $296.17 million, a P/E ratio of 17.48, a P/E/G ratio of 1.33 and a beta of 2.01. The firm has a fifty day moving average price of $6.43 and a 200 day moving average price of $6.51. Denny’s Co. has a 1 year low of $5.37 and a 1 year high of $11.16.

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