JMP Securities Reiterates Market Perform Rating for PENN Entertainment (NASDAQ:PENN)

PENN Entertainment (NASDAQ:PENN)‘s stock had its “market perform” rating restated by equities research analysts at JMP Securities in a research report issued on Thursday,Benzinga reports.

A number of other equities research analysts have also recently issued reports on the company. Jefferies Financial Group upped their target price on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Barclays reduced their target price on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Benchmark restated a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th. Macquarie raised their price objective on PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Susquehanna decreased their price objective on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.44.

PENN Entertainment Stock Performance

Shares of PENN opened at $20.02 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $24.57. The company’s fifty day moving average is $19.94 and its 200-day moving average is $19.36. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -5.64, a price-to-earnings-growth ratio of 1.27 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts expect that PENN Entertainment will post -1.54 EPS for the current fiscal year.

Institutional Trading of PENN Entertainment

Large investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale bought a new position in PENN Entertainment in the third quarter valued at approximately $45,000. GAMMA Investing LLC raised its holdings in shares of PENN Entertainment by 88.5% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after acquiring an additional 1,275 shares during the period. Quest Partners LLC bought a new stake in PENN Entertainment in the 3rd quarter valued at $56,000. Modus Advisors LLC acquired a new position in PENN Entertainment in the 4th quarter worth $63,000. Finally, International Assets Investment Management LLC increased its holdings in PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after purchasing an additional 3,057 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

About PENN Entertainment

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.