Access Investment Management LLC Buys New Shares in Denny's Co. (NASDAQ:DENN)

Access Investment Management LLC acquired a new position in Denny's Co. (NASDAQ:DENN - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 215,100 shares of the restaurant operator's stock, valued at approximately $1,387,000. Access Investment Management LLC owned about 0.42% of Denny's as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in Denny's by 20.7% during the first quarter. BNP Paribas Financial Markets now owns 42,593 shares of the restaurant operator's stock valued at $382,000 after purchasing an additional 7,309 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Denny's by 19.9% in the 1st quarter. Russell Investments Group Ltd. now owns 267,357 shares of the restaurant operator's stock valued at $2,396,000 after buying an additional 44,414 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Denny's by 87.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 29,189 shares of the restaurant operator's stock valued at $262,000 after buying an additional 13,600 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Denny's by 15.3% in the first quarter. First Eagle Investment Management LLC now owns 1,103,727 shares of the restaurant operator's stock worth $9,889,000 after buying an additional 146,658 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Denny's by 2.8% during the first quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator's stock worth $29,885,000 after acquiring an additional 89,465 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Denny's Stock Performance

Shares of DENN remained flat at $6.99 during mid-day trading on Monday. 411,858 shares of the company were exchanged, compared to its average volume of 583,524. The company has a 50-day moving average of $6.41 and a two-hundred day moving average of $6.80. Denny's Co. has a 12-month low of $5.37 and a 12-month high of $11.16. The stock has a market capitalization of $358.79 million, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.49 and a beta of 2.02.

Denny's (NASDAQ:DENN - Get Free Report) last posted its earnings results 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 business had revenue of $111.76 million for the quarter, compared to analyst estimates of $115.46 million. Denny's had a negative return on equity of 48.64% and a net margin of 3.90%. Denny's's revenue was down 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.17 EPS. As a group, research analysts forecast that Denny's Co. will post 0.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on DENN shares. Benchmark dropped their price target on shares of Denny's from $15.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Oppenheimer cut their price target on Denny's from $10.00 to $7.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Citigroup upgraded Denny's from a "neutral" rating to a "buy" rating and increased their price target for the stock from $7.00 to $7.50 in a research report on Friday, October 25th. StockNews.com cut Denny's from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Finally, Truist Financial decreased their target price on Denny's from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $7.70.

Denny's 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.