PENN Entertainment (NASDAQ:PENN) Stock Price Expected to Rise, Macquarie Analyst Says

PENN Entertainment (NASDAQ:PENN) had its price objective upped by Macquarie from $26.00 to $27.00 in a report issued on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also commented on the stock. Barclays dropped their price target on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research note on Friday. Craig Hallum reissued a “buy” rating and set a $30.00 price target on shares of PENN Entertainment in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus raised their price objective on PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.96.

PENN Entertainment Trading Down 0.1 %

Shares of NASDAQ PENN opened at $20.46 on Friday. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $27.20. The company has a market cap of $3.12 billion, a PE ratio of -5.76 and a beta of 2.09. 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 firm’s 50 day moving average price is $19.02 and its 200-day moving average price is $18.35.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.38%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the firm posted $1.21 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts expect that PENN Entertainment will post -1.41 EPS for the current fiscal year.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler bought 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $17.51 per share, with a total value of $175,100.00. Following the transaction, the director now 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jay A. Snowden purchased 54,200 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the transaction, the chief executive officer now owns 853,045 shares in the company, valued at approximately $15,730,149.80. 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 available at this hyperlink. Also, Director David A. Handler purchased 10,000 shares of PENN Entertainment stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average cost of $17.51 per share, with a total value of $175,100.00. Following the acquisition, the director now directly 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. In the last ninety days, insiders acquired 79,200 shares of company stock worth $1,450,548. 2.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in PENN Entertainment by 233.6% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after purchasing an additional 1,009 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in PENN Entertainment during the 3rd quarter worth $45,000. Quest Partners LLC acquired a new position in shares of PENN Entertainment in the 3rd quarter valued at $56,000. International Assets Investment Management LLC lifted its stake in shares of PENN Entertainment by 1,634.8% in the 3rd 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 during the period. Finally, J.Safra Asset Management Corp bought a new stake in shares of PENN Entertainment in the 2nd quarter valued at $83,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.