PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Rating of “Moderate Buy” by Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been assigned an average rating of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $23.75.

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Morgan Stanley cut their target price on shares of PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Raymond James cut PENN Entertainment from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Tuesday, October 8th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $30.00 target price on shares of PENN Entertainment in a research note on Tuesday, October 8th.

Insider Buying and Selling at PENN Entertainment

In related news, CEO Jay A. Snowden purchased 54,200 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the purchase, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director David A. Handler purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the acquisition, the director now directly owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay A. Snowden purchased 54,200 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 owns 853,045 shares of the company’s stock, valued at $15,730,149.80. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 79,200 shares of company stock worth $1,450,548 over the last three months. Corporate insiders own 2.19% of the company’s stock.

Institutional Trading of PENN Entertainment

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of PENN Entertainment by 233.6% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after buying an additional 1,009 shares during the last quarter. Neo Ivy Capital Management bought a new stake in PENN Entertainment in the 4th quarter valued at $40,000. J.Safra Asset Management Corp acquired a new stake in PENN Entertainment in the 2nd quarter worth $83,000. Quarry LP increased its holdings in shares of PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after purchasing an additional 1,862 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of PENN Entertainment by 18.3% in the second quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock valued at $183,000 after buying an additional 1,555 shares during the period. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $18.99 on Friday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $2.89 billion, a PE ratio of -2.55 and a beta of 2.10. The stock has a fifty day moving average of $18.92 and a 200-day moving average of $18.08. PENN Entertainment has a one year low of $13.50 and a one year high of $27.20.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. PENN Entertainment’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. As a group, equities analysts anticipate that PENN Entertainment will post -1.32 EPS for the current fiscal year.

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.