Invesco Ltd. Acquires 11,938 Shares of Denny’s Corporation $DENN

Invesco Ltd. raised its holdings in shares of Denny’s Corporation (NASDAQ:DENN) by 9.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,408 shares of the restaurant operator’s stock after acquiring an additional 11,938 shares during the period. Invesco Ltd.’s holdings in Denny’s were worth $526,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in Denny’s during the first quarter valued at approximately $251,000. XTX Topco Ltd grew its holdings in shares of Denny’s by 6.8% in the first quarter. XTX Topco Ltd now owns 40,763 shares of the restaurant operator’s stock worth $150,000 after purchasing an additional 2,601 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of Denny’s by 160.4% in the first quarter. Avantax Advisory Services Inc. now owns 156,967 shares of the restaurant operator’s stock worth $576,000 after purchasing an additional 96,694 shares during the last quarter. Gilbert & Cook Inc. bought a new position in shares of Denny’s in the first quarter worth approximately $44,000. Finally, Royce & Associates LP grew its holdings in shares of Denny’s by 45.2% in the first quarter. Royce & Associates LP now owns 312,004 shares of the restaurant operator’s stock worth $1,145,000 after purchasing an additional 97,117 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Denny’s Stock Down 4.2%

Shares of DENN stock opened at $4.61 on Friday. The stock has a fifty day moving average of $4.17 and a 200 day moving average of $4.04. Denny’s Corporation has a 52 week low of $2.85 and a 52 week high of $7.73. The firm has a market capitalization of $237.42 million, a price-to-earnings ratio of 14.87 and a beta of 1.63.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Monday, August 4th. The restaurant operator reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $117.66 million for the quarter, compared to analysts’ expectations of $118.14 million. Denny’s had a net margin of 3.53% and a negative return on equity of 59.51%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 EPS. Equities research analysts anticipate that Denny’s Corporation will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DENN. Benchmark cut their target price on shares of Denny’s from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Piper Sandler set a $4.00 target price on shares of Denny’s and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.46.

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.