Avantax Advisory Services Inc. Has $365,000 Stock Position in Denny’s Co. (NASDAQ:DENN)

Avantax Advisory Services Inc. lowered its holdings in shares of Denny’s Co. (NASDAQ:DENN) by 47.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,273 shares of the restaurant operator’s stock after selling 53,488 shares during the period. Avantax Advisory Services Inc.’s holdings in Denny’s were worth $365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Denny’s by 244.0% during the third quarter. JPMorgan Chase & Co. now owns 75,797 shares of the restaurant operator’s stock valued at $489,000 after acquiring an additional 53,763 shares during the period. Barclays PLC grew its stake in shares of Denny’s by 342.5% during the 3rd quarter. Barclays PLC now owns 82,257 shares of the restaurant operator’s stock worth $531,000 after acquiring an additional 63,668 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Denny’s by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator’s stock worth $7,618,000 after buying an additional 3,902 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Denny’s during the 3rd quarter worth approximately $83,000. Finally, State Street Corp lifted its stake in Denny’s by 0.3% in the third quarter. State Street Corp now owns 1,175,986 shares of the restaurant operator’s stock valued at $7,585,000 after acquiring an additional 3,142 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity at Denny’s

In other Denny’s news, CEO Kelli Valade purchased 9,700 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of $5.13 per share, for a total transaction of $49,761.00. Following the purchase, the chief executive officer now directly owns 192,806 shares of the company’s stock, valued at $989,094.78. This trade represents a 5.30 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephen C. Dunn acquired 9,815 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average price of $5.08 per share, with a total value of $49,860.20. Following the transaction, the executive vice president now owns 113,666 shares of the company’s stock, valued at approximately $577,423.28. This represents a 9.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 20,465 shares of company stock worth $104,457. 4.20% of the stock is owned by company insiders.

Denny’s Price Performance

DENN opened at $3.98 on Tuesday. The stock’s 50 day simple moving average is $5.30 and its 200 day simple moving average is $5.96. Denny’s Co. has a 1 year low of $3.80 and a 1 year high of $9.25. The firm has a market cap of $205.41 million, a price-to-earnings ratio of 9.71 and a beta of 2.08.

Denny’s (NASDAQ:DENN) last posted its quarterly earnings results on Wednesday, February 12th. The restaurant operator reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Denny’s had a negative return on equity of 50.01% and a net margin of 4.77%. As a group, sell-side analysts anticipate that Denny’s Co. will post 0.5 EPS for the current year.

Analysts Set New Price Targets

DENN has been the subject of several recent analyst reports. StockNews.com cut shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Citigroup dropped their price target on Denny’s from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Wedbush cut their price target on Denny’s from $10.00 to $8.50 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Piper Sandler cut their price target on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, February 18th. Finally, Oppenheimer decreased their price target on shares of Denny’s from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Denny’s has an average rating of “Moderate Buy” and a consensus price target of $7.75.

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.