Denny’s (NASDAQ:DENN) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Denny’s Corporation (NASDAQ:DENN)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.83 and traded as high as $6.22. Denny’s shares last traded at $6.21, with a volume of 591,366 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DENN shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Denny’s in a research report on Monday. Benchmark lowered Denny’s from a “buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Truist Financial reissued a “hold” rating and set a $6.00 price target on shares of Denny’s in a research report on Tuesday, November 4th. Oppenheimer cut shares of Denny’s from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 4th. Finally, Mizuho raised shares of Denny’s to a “hold” rating in a research report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Denny’s presently has an average rating of “Hold” and a consensus target price of $5.96.

Denny’s Trading Up 0.2%

The company’s 50-day moving average is $5.63 and its 200 day moving average is $4.83. The stock has a market capitalization of $319.82 million, a PE ratio of 31.05 and a beta of 1.43.

Denny’s (NASDAQ:DENN) last issued its quarterly earnings results on Tuesday, November 4th. The restaurant operator reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The company had revenue of $113.24 million for the quarter, compared to analyst estimates of $116.91 million. Denny’s had a net margin of 2.24% and a negative return on equity of 60.26%. The company’s revenue for the quarter was up 202.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. Sell-side analysts forecast that Denny’s Corporation will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at Denny’s

In related news, insider Jumana Capital Investments Llc acquired 250,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average price of $4.08 per share, with a total value of $1,020,000.00. Following the acquisition, the insider directly owned 4,524,905 shares in the company, valued at $18,461,612.40. This represents a 5.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders bought 433,307 shares of company stock worth $1,945,837. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Denny’s

A number of hedge funds have recently bought and sold shares of the business. Boston Partners boosted its stake in shares of Denny’s by 56.7% in the second quarter. Boston Partners now owns 3,951,187 shares of the restaurant operator’s stock worth $16,196,000 after acquiring an additional 1,430,102 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in Denny’s by 6.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,949,248 shares of the restaurant operator’s stock valued at $7,992,000 after purchasing an additional 110,722 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Denny’s by 5.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,670,070 shares of the restaurant operator’s stock valued at $6,129,000 after buying an additional 81,550 shares during the period. Earnest Partners LLC lifted its position in shares of Denny’s by 16.2% during the first quarter. Earnest Partners LLC now owns 1,561,053 shares of the restaurant operator’s stock worth $5,729,000 after purchasing an additional 218,019 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Denny’s by 1.1% in the second quarter. Geode Capital Management LLC now owns 1,241,142 shares of the restaurant operator’s stock valued at $5,090,000 after acquiring an additional 13,816 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

About Denny’s

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.