Denny’s (NASDAQ:DENN) Share Price Passes Above 50 Day Moving Average of $19.94

Denny’s Corp (NASDAQ:DENN)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $19.94 and traded as high as $20.55. Denny’s shares last traded at $20.52, with a volume of 4,914 shares traded.

DENN has been the subject of a number of recent research reports. Maxim Group reaffirmed a “buy” rating and set a $21.00 price objective on shares of Denny’s in a research report on Wednesday, April 24th. Zacks Investment Research raised Denny’s from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, May 3rd. Wedbush reaffirmed a “buy” rating and set a $21.00 price objective on shares of Denny’s in a research report on Monday, May 20th. Finally, BidaskClub raised Denny’s from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Denny’s currently has a consensus rating of “Buy” and an average target price of $20.00.

The business has a 50-day moving average of $19.96. The company has a market capitalization of $1.23 billion, a P/E ratio of 30.19 and a beta of 0.13.

Denny’s (NASDAQ:DENN) last issued its earnings results on Tuesday, April 30th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $151.41 million during the quarter, compared to the consensus estimate of $149.01 million. Denny’s had a negative return on equity of 34.51% and a net margin of 7.89%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. Analysts predict that Denny’s Corp will post 0.64 earnings per share for the current fiscal year.

In other news, SVP John William Dillon sold 10,360 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $19.24, for a total transaction of $199,326.40. Following the completion of the transaction, the senior vice president now directly owns 80,208 shares of the company’s stock, valued at approximately $1,543,201.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP F Mark Wolfinger sold 7,500 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $19.22, for a total value of $144,150.00. Following the transaction, the executive vice president now directly owns 776,712 shares of the company’s stock, valued at $14,928,404.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,110 shares of company stock valued at $3,162,497. Company insiders own 6.10% of the company’s stock.

Several hedge funds have recently modified their holdings of DENN. FMR LLC raised its stake in shares of Denny’s by 102.6% during the 1st quarter. FMR LLC now owns 2,391,010 shares of the restaurant operator’s stock worth $43,874,000 after buying an additional 1,211,020 shares in the last quarter. Monarch Partners Asset Management LLC purchased a new position in shares of Denny’s during the 1st quarter worth approximately $8,827,000. Millennium Management LLC raised its stake in shares of Denny’s by 189.5% during the 4th quarter. Millennium Management LLC now owns 462,051 shares of the restaurant operator’s stock worth $7,490,000 after buying an additional 302,473 shares in the last quarter. Nomura Holdings Inc. purchased a new position in shares of Denny’s during the 4th quarter worth approximately $3,480,000. Finally, Martingale Asset Management L P raised its stake in shares of Denny’s by 85.4% during the 1st quarter. Martingale Asset Management L P now owns 296,824 shares of the restaurant operator’s stock worth $5,447,000 after buying an additional 136,710 shares in the last quarter. 92.68% of the stock is owned by institutional investors and hedge funds.

Denny’s Company Profile (NASDAQ:DENN)

Denny's Corporation, through its subsidiary, Denny's, Inc, owns and operates full-service restaurant chains under the Denny's brand. As of December 26, 2018, it operated 1,709 franchised, licensed, and company restaurants, including 1,578 restaurants in the United States; and 131 in Canada, Puerto Rico, Mexico, New Zealand, the Philippines, Honduras, Costa Rica, the United Arab Emirates, Guam, the United Kingdom, El Salvador, and Guatemala.

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