Truist Financial Lowers PENN Entertainment (NASDAQ:PENN) Price Target to $23.00

PENN Entertainment (NASDAQ:PENN) had its price target decreased by Truist Financial from $25.00 to $23.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 22.47% from the stock’s previous close.

Several other research firms have also weighed in on PENN. Wells Fargo & Company upped their price target on PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. Barclays lowered their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their target price on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Morgan Stanley decreased their price target on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.96.

PENN Entertainment Stock Performance

PENN stock traded down $0.10 during trading on Wednesday, reaching $18.78. 213,129 shares of the company’s stock were exchanged, compared to its average volume of 5,234,477. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.35. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $27.20. The company’s fifty day moving average price is $18.91 and its 200-day moving average price is $18.10. The firm has a market cap of $2.87 billion, a PE ratio of -2.30 and a beta of 2.10.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate 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%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. On average, research analysts expect that PENN Entertainment will post -1.37 EPS for the current fiscal year.

Insider Transactions at PENN Entertainment

In related news, Director David A. Handler purchased 10,000 shares of PENN Entertainment stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the transaction, the director now directly owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Anuj Dhanda bought 15,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the transaction, the director now owns 31,523 shares in the company, valued at $580,023.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David A. Handler bought 10,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 293,450 shares of the company’s stock, valued at $5,138,309.50. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 79,200 shares of company stock worth $1,450,548 in the last three months. Insiders own 2.19% of the company’s stock.

Institutional Trading of PENN Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 1,009 shares during the period. International Assets Investment Management LLC raised its position in PENN Entertainment by 1,634.8% during the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after purchasing an additional 3,057 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in PENN Entertainment during the second quarter valued at approximately $83,000. Quarry LP increased its holdings in shares of PENN Entertainment by 76.7% during the second quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after buying an additional 1,862 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of PENN Entertainment by 7.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock worth $252,000 after buying an additional 632 shares in 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.