Denny’s (NASDAQ:DENN) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Denny’s Corporation (NASDAQ:DENN)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.13 and traded as high as $6.25. Denny’s shares last traded at $6.25, with a volume of 1,523,061 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on DENN shares. Oppenheimer downgraded shares of Denny’s from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 4th. Truist Financial reissued a “hold” rating and set a $6.00 price objective on shares of Denny’s in a report on Tuesday, November 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Denny’s in a research report on Monday, December 29th. Mizuho raised shares of Denny’s to a “hold” rating in a report on Tuesday, October 28th. Finally, Benchmark downgraded shares of Denny’s from a “buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.96.

Denny’s Stock Up 0.2%

The stock’s fifty day moving average price is $6.19 and its 200-day moving average price is $5.13. The company has a market capitalization of $321.88 million, a price-to-earnings ratio of 31.25 and a beta of 1.37.

Denny’s (NASDAQ:DENN) last announced its quarterly earnings data on Tuesday, November 4th. The restaurant operator reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.03). Denny’s had a net margin of 2.24% and a negative return on equity of 60.26%. The company had revenue of $113.24 million during the quarter, compared to the consensus estimate of $116.91 million. During the same quarter in the previous year, the business earned $0.14 EPS. Denny’s’s revenue was up 202.6% on a year-over-year basis. Analysts anticipate that Denny’s Corporation will post 0.5 EPS for the current year.

Insider Activity at Denny’s

In other news, insider Jumana Capital Investments Llc acquired 250,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of $4.08 per share, for a total transaction of $1,020,000.00. Following the purchase, the insider directly owned 4,524,905 shares of the company’s stock, valued at approximately $18,461,612.40. This trade represents a 5.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 433,307 shares of company stock valued at $1,945,837. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Denny’s

A number of large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can acquired a new stake in Denny’s during the second quarter worth approximately $48,000. Northwestern Mutual Wealth Management Co. acquired a new position in Denny’s in the third quarter valued at about $52,000. BNP Paribas Financial Markets raised its position in shares of Denny’s by 109.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,408 shares of the restaurant operator’s stock valued at $54,000 after buying an additional 5,431 shares in the last quarter. SG Americas Securities LLC bought a new stake in Denny’s during the third quarter worth $58,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Denny’s in the second quarter valued at about $67,000. Institutional investors own 85.07% of the company’s stock.

Denny’s Company Profile

Denny’s Corporation operates one of the largest full-service, family‐style restaurant chains in the United States, specializing in classic American diner fare. The company’s menu features breakfast, lunch and dinner offerings served around the clock, with signature items such as the Grand Slam breakfast, burgers, sandwiches and a variety of savory skillets. As a publicly traded entity under the symbol DENN on NASDAQ, Denny’s focuses on providing an accessible dining experience for a broad customer base, including families, travelers and late‐night diners.

The company’s business model combines both franchised and company‐owned locations.