Wells Fargo & Company MN Sells 107,603 Shares of Denny's Co. (NASDAQ:DENN)

Wells Fargo & Company MN decreased its position in shares of Denny's Co. (NASDAQ:DENN - Free Report) by 20.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 427,747 shares of the restaurant operator's stock after selling 107,603 shares during the period. Wells Fargo & Company MN owned about 0.83% of Denny's worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Access Investment Management LLC boosted its position in Denny's by 1.5% in the 4th quarter. Access Investment Management LLC now owns 218,235 shares of the restaurant operator's stock valued at $1,320,000 after buying an additional 3,135 shares during the last quarter. State Street Corp lifted its stake in shares of Denny's by 0.3% during 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 period. Geode Capital Management LLC increased its position in Denny's by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,180,879 shares of the restaurant operator's stock worth $7,618,000 after purchasing an additional 3,902 shares during the period. SG Americas Securities LLC raised its holdings in Denny's by 25.3% during the 4th quarter. SG Americas Securities LLC now owns 23,272 shares of the restaurant operator's stock worth $141,000 after purchasing an additional 4,704 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Denny's by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 209,163 shares of the restaurant operator's stock valued at $1,265,000 after purchasing an additional 10,007 shares during the period. Institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wedbush dropped their price target on shares of Denny's from $10.00 to $8.50 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Citigroup reduced their price target on Denny's from $7.00 to $6.25 and set a "buy" rating on the stock in a research report on Thursday, April 24th. StockNews.com downgraded Denny's from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Piper Sandler reduced their target price on 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 lowered their price target on 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.63.

Insider Activity at Denny's

In other news, EVP Stephen C. Dunn acquired 9,815 shares of Denny's stock in a transaction dated Wednesday, February 26th. The stock was bought at an average cost of $5.08 per share, with a total value of $49,860.20. Following the completion of the transaction, the executive vice president now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kelli Valade bought 9,700 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $5.13 per share, for a total transaction of $49,761.00. Following the transaction, the chief executive officer now owns 192,806 shares in the company, valued at $989,094.78. The trade was a 5.30 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 20,465 shares of company stock valued at $104,457. 4.20% of the stock is owned by corporate insiders.

Denny's Trading Down 0.3 %

Shares of NASDAQ DENN traded down $0.01 during mid-day trading on Wednesday, reaching $3.69. 715,321 shares of the company's stock were exchanged, compared to its average volume of 901,749. Denny's Co. has a twelve month low of $2.85 and a twelve month high of $8.30. The firm has a market capitalization of $189.95 million, a price-to-earnings ratio of 9.00 and a beta of 1.87. The business has a fifty day simple moving average of $3.80 and a 200 day simple moving average of $5.39.

Denny's (NASDAQ:DENN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The restaurant operator reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Denny's had a net margin of 4.77% and a negative return on equity of 50.01%. Equities research analysts predict that Denny's Co. will post 0.5 earnings per share for the current fiscal year.

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.