Denny’s (NASDAQ:DENN) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Denny’s Corporation (NASDAQ:DENN) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.25 and traded as high as $6.26. Denny’s shares last traded at $6.2450, with a volume of 4,056,515 shares.

Analyst Ratings Changes

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

Denny’s Trading Down 0.2%

The firm’s fifty day moving average price is $6.20 and its 200-day moving average price is $5.25. The company has a market cap of $321.62 million, a price-to-earnings ratio of 31.23 and a beta of 1.37.

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

Insider Activity

In other news, insider Jumana Capital Investments Llc acquired 250,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was acquired at an average cost of $4.08 per share, for a total transaction of $1,020,000.00. Following the completion of the acquisition, the insider owned 4,524,905 shares in the company, valued at $18,461,612.40. This represents a 5.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DENN. Bank of Montreal Can bought a new stake in shares of Denny’s in the 2nd quarter valued at about $48,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Denny’s in the third quarter valued at about $52,000. BNP Paribas Financial Markets grew its stake in shares of Denny’s by 109.1% in the third quarter. BNP Paribas Financial Markets now owns 10,408 shares of the restaurant operator’s stock valued at $54,000 after acquiring an additional 5,431 shares in the last quarter. SG Americas Securities LLC bought a new position in Denny’s during the third quarter worth about $58,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Denny’s during the second quarter worth about $67,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

About Denny’s

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.