Entropy Technologies LP Buys Shares of 13,374 Denny’s Co. (NASDAQ:DENN)

Entropy Technologies LP purchased a new position in Denny’s Co. (NASDAQ:DENN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,374 shares of the restaurant operator’s stock, valued at approximately $86,000.

Several other institutional investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in Denny’s by 6.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,634,514 shares of the restaurant operator’s stock worth $55,693,000 after purchasing an additional 558,964 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Denny’s by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 3,335,391 shares of the restaurant operator’s stock valued at $29,885,000 after purchasing an additional 89,465 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Denny’s by 14.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,258,827 shares of the restaurant operator’s stock valued at $8,938,000 after purchasing an additional 155,100 shares during the last quarter. Olstein Capital Management L.P. boosted its holdings in Denny’s by 2.2% in the third quarter. Olstein Capital Management L.P. now owns 916,400 shares of the restaurant operator’s stock worth $5,911,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Millennium Management LLC increased its position in Denny’s by 1,487.7% during the second quarter. Millennium Management LLC now owns 531,530 shares of the restaurant operator’s stock worth $3,774,000 after buying an additional 498,051 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Denny’s Price Performance

NASDAQ:DENN opened at $6.54 on Monday. The stock has a market cap of $335.70 million, a P/E ratio of 19.82, a PEG ratio of 1.39 and a beta of 2.02. The company has a fifty day moving average price of $6.46 and a 200 day moving average price of $6.75. Denny’s Co. has a one year low of $5.37 and a one year high of $11.16.

Denny’s (NASDAQ:DENN) last released its earnings results 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). The firm 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%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.17 earnings per share. As a group, equities research analysts anticipate that Denny’s Co. will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DENN shares. StockNews.com downgraded Denny’s from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Citigroup upgraded Denny’s from a “neutral” rating to a “buy” rating and increased their price target for the company from $7.00 to $7.50 in a report on Friday, October 25th. Truist Financial reduced 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 note on Monday, October 28th. Wedbush lowered their target price on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, Benchmark cut their target price on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.