Allspring Global Investments Holdings LLC Has $53.42 Million Stock Position in Denny's Co. (NASDAQ:DENN)

Allspring Global Investments Holdings LLC cut its holdings in shares of Denny's Co. (NASDAQ:DENN - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,520,310 shares of the restaurant operator's stock after selling 114,204 shares during the quarter. Allspring Global Investments Holdings LLC owned about 16.60% of Denny's worth $53,422,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in Denny's in the 2nd quarter valued at $77,000. FMR LLC raised its position in shares of Denny's by 95.2% during the third quarter. FMR LLC now owns 12,239 shares of the restaurant operator's stock valued at $79,000 after buying an additional 5,970 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Denny's during the third quarter valued at about $83,000. Entropy Technologies LP bought a new stake in shares of Denny's in the third quarter valued at about $86,000. Finally, SG Americas Securities LLC acquired a new stake in Denny's during the third quarter worth about $120,000. 85.07% of the stock is owned by institutional investors.

Denny's Price Performance

Shares of NASDAQ:DENN traded down $0.51 during trading on Monday, reaching $4.86. The stock had a trading volume of 3,878,851 shares, compared to its average volume of 821,464. The stock has a market capitalization of $249.46 million, a PE ratio of 14.73, a P/E/G ratio of 1.27 and a beta of 2.02. Denny's Co. has a 52 week low of $4.82 and a 52 week high of $9.56. The business's 50-day moving average price is $6.08 and its 200 day moving average price is $6.26.

Denny's (NASDAQ:DENN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The restaurant operator reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny's had a negative return on equity of 48.64% and a net margin of 3.90%. Analysts forecast that Denny's Co. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DENN shares. Wedbush reduced their price objective on Denny's from $10.00 to $8.50 and set an "outperform" rating for the company in a research report on Thursday. StockNews.com cut Denny's from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Citigroup lowered their price target on shares of Denny's from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday. Oppenheimer reduced their price objective on shares of Denny's from $8.00 to $7.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Truist Financial lowered their target price on shares of Denny's from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Monday, October 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $8.10.

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.