Avantax Advisory Services Inc. Has $576,000 Holdings in Denny's Corporation (NASDAQ:DENN)

Key Points

• Avantax Advisory Services Inc. increased its holdings in Denny's Corporation by 160.4% in Q1, owning 156,967 shares worth $576,000.
• Denny's reported a net margin of 3.53% and a negative return on equity of 56.99%, with Q2 EPS of $0.09 missing estimates.
• Equities analysts have lowered price targets for Denny's, with Piper Sandler setting a new target of $4.00 and maintaining a "neutral" rating.

Avantax Advisory Services Inc. raised its position in shares of Denny's Corporation (NASDAQ:DENN - Free Report) by 160.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,967 shares of the restaurant operator's stock after acquiring an additional 96,694 shares during the period. Avantax Advisory Services Inc. owned approximately 0.30% of Denny's worth $576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC increased its holdings in Denny's by 217.7% in the 1st quarter. CWM LLC now owns 6,725 shares of the restaurant operator's stock valued at $25,000 after buying an additional 4,608 shares during the period. Park Avenue Securities LLC acquired a new position in shares of Denny's in the 1st quarter valued at $40,000. Cerity Partners LLC bought a new position in Denny's in the first quarter valued at approximately $41,000. Gilbert & Cook Inc. bought a new position in shares of Denny's during the first quarter worth about $44,000. Finally, Quarry LP lifted its position in Denny's by 178.4% during the 4th quarter. Quarry LP now owns 9,618 shares of the restaurant operator's stock worth $58,000 after buying an additional 6,163 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Denny's Stock Performance

Denny's stock opened at $3.54 on Wednesday. The stock's 50 day moving average price is $4.10 and its two-hundred day moving average price is $4.33. The stock has a market capitalization of $181.43 million, a price-to-earnings ratio of 11.42 and a beta of 1.70. Denny's Corporation has a 52-week low of $2.85 and a 52-week high of $7.73.

Denny's (NASDAQ:DENN - Get Free Report) last announced its earnings results on Monday, August 4th. The restaurant operator reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company 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 56.99%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 EPS. On average, equities research analysts forecast that Denny's Corporation will post 0.5 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler lowered their price target on Denny's from $6.00 to $4.00 and set a "neutral" rating on the stock in a research report on Tuesday. Oppenheimer reduced their price objective on Denny's from $7.00 to $6.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Finally, Citigroup lowered their price objective on Denny's from $7.00 to $6.25 and set a "buy" rating for the company in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $7.13.

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.

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