Denny’s (NASDAQ:DENN) Stock Passes Above 200-Day Moving Average – What’s Next?

Denny’s Co. (NASDAQ:DENN)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.35 and traded as high as $6.58. Denny’s shares last traded at $6.34, with a volume of 829,171 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. StockNews.com downgraded shares of Denny’s from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Wedbush reduced their price objective on shares of Denny’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Oppenheimer raised their price objective on shares of Denny’s from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Benchmark reduced their price objective on shares of Denny’s from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, Truist Financial reduced their price objective on shares of Denny’s from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.90.

Denny’s Stock Up 0.2 %

The company has a market cap of $325.43 million, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.21 and a beta of 2.01. The company has a fifty day simple moving average of $6.15 and a two-hundred day simple moving average of $6.35.

Institutional Trading of Denny’s

Several large investors have recently bought and sold shares of the company. Sei Investments Co. lifted its position in Denny’s by 25.3% during the second quarter. Sei Investments Co. now owns 152,099 shares of the restaurant operator’s stock worth $1,080,000 after buying an additional 30,681 shares during the period. Squarepoint Ops LLC grew its stake in shares of Denny’s by 140.1% in the second quarter. Squarepoint Ops LLC now owns 31,433 shares of the restaurant operator’s stock valued at $223,000 after buying an additional 18,342 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Denny’s by 63.8% in the second quarter. AQR Capital Management LLC now owns 216,694 shares of the restaurant operator’s stock valued at $1,539,000 after buying an additional 84,371 shares in the last quarter. Millennium Management LLC grew its stake in shares of Denny’s by 1,487.7% in the second quarter. Millennium Management LLC now owns 531,530 shares of the restaurant operator’s stock valued at $3,774,000 after buying an additional 498,051 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Denny’s by 8.7% in the second quarter. The Manufacturers Life Insurance Company now owns 21,130 shares of the restaurant operator’s stock valued at $150,000 after buying an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.