PENN Entertainment (NASDAQ:PENN) Stock Rating Reaffirmed by Craig Hallum

Craig Hallum restated their buy rating on shares of PENN Entertainment (NASDAQ:PENN) in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a $30.00 price objective on the stock.

Several other equities research analysts also recently weighed in on the stock. Susquehanna reiterated a positive rating and set a $26.00 target price on shares of PENN Entertainment in a research note on Friday, June 21st. Truist Financial increased their price target on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a buy rating in a report on Friday, June 14th. Needham & Company LLC reissued a buy rating and set a $26.00 price target on shares of PENN Entertainment in a report on Tuesday. Raymond James cut shares of PENN Entertainment from an outperform rating to a market perform rating in a report on Tuesday, June 25th. Finally, Stifel Nicolaus increased their price target on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a hold rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $23.77.

PENN Entertainment Price Performance

Shares of PENN opened at $18.52 on Tuesday. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -2.49 and a beta of 2.10. The firm has a 50-day simple moving average of $18.81 and a 200-day simple moving average of $18.05. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.09. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that PENN Entertainment will post -1.32 earnings per share for the current year.

Insider Activity

In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the transaction, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at $15,730,149.80. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Jay A. Snowden bought 54,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the transaction, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anuj Dhanda bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the transaction, the director now owns 31,523 shares of the company’s stock, valued at $580,023.20. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 79,200 shares of company stock worth $1,450,548 over the last ninety days. 2.19% of the stock is currently owned by insiders.

Institutional Trading of PENN Entertainment

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in PENN Entertainment by 0.4% during the first quarter. Vanguard Group Inc. now owns 14,789,817 shares of the company’s stock worth $269,323,000 after acquiring an additional 59,897 shares during the last quarter. DME Capital Management LP boosted its position in PENN Entertainment by 11.9% during the second quarter. DME Capital Management LP now owns 5,095,340 shares of the company’s stock worth $98,620,000 after acquiring an additional 540,630 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of PENN Entertainment by 4.6% in the 2nd quarter. Earnest Partners LLC now owns 4,117,946 shares of the company’s stock valued at $79,703,000 after purchasing an additional 179,813 shares during the last quarter. Armistice Capital LLC boosted its holdings in shares of PENN Entertainment by 91.9% in the 2nd quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock valued at $51,156,000 after purchasing an additional 1,266,023 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of PENN Entertainment by 3.7% in the 2nd quarter. Sei Investments Co. now owns 2,461,074 shares of the company’s stock valued at $47,634,000 after purchasing an additional 88,797 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Company Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.