PENN Entertainment (NASDAQ:PENN) Earns “Market Perform” Rating from JMP Securities

JMP Securities reissued their market perform rating on shares of PENN Entertainment (NASDAQ:PENN) in a research note issued to investors on Tuesday, Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. Macquarie decreased their price target on shares of PENN Entertainment from $35.00 to $33.00 and set an outperform rating for the company in a research report on Friday, February 16th. StockNews.com cut PENN Entertainment from a hold rating to a sell rating in a research note on Wednesday, March 6th. Stifel Nicolaus reduced their price target on PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a research report on Friday, February 16th. Susquehanna lowered their price objective on PENN Entertainment from $27.00 to $26.00 and set a positive rating for the company in a research report on Friday, May 31st. Finally, Barclays reduced their target price on shares of PENN Entertainment from $26.00 to $22.00 and set an overweight rating on the stock in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $24.30.

PENN Entertainment Trading Down 0.7 %

Shares of NASDAQ PENN opened at $17.16 on Tuesday. The stock has a fifty day simple moving average of $16.51 and a 200-day simple moving average of $20.16. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $29.38. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. The stock has a market capitalization of $2.62 billion, a PE ratio of -2.30 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. On average, equities analysts forecast that PENN Entertainment will post -1.35 earnings per share for the current year.

Insider Buying and Selling at PENN Entertainment

In other news, Director David A. Handler bought 20,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the transaction, the director now owns 243,450 shares of the company’s stock, valued at $3,741,826.50. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director David A. Handler acquired 20,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $15.37 per share, with a total value of $307,400.00. Following the completion of the acquisition, the director now owns 243,450 shares of the company’s stock, valued at $3,741,826.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Felicia Hendrix bought 16,157 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the acquisition, the chief financial officer now directly owns 68,596 shares in the company, valued at $1,061,180.12. The disclosure for this purchase can be found here. Insiders purchased 76,157 shares of company stock worth $1,154,949 over the last 90 days. Corporate insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On PENN Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kettle Hill Capital Management LLC acquired a new stake in PENN Entertainment during the 3rd quarter worth approximately $19,792,000. Contrarius Investment Management Ltd lifted its holdings in shares of PENN Entertainment by 139.0% during the fourth quarter. Contrarius Investment Management Ltd now owns 892,394 shares of the company’s stock worth $23,220,000 after purchasing an additional 518,995 shares during the period. Fred Alger Management LLC purchased a new position in PENN Entertainment in the 3rd quarter valued at $1,750,000. Natixis Advisors L.P. increased its stake in PENN Entertainment by 59.2% in the 4th quarter. Natixis Advisors L.P. now owns 180,766 shares of the company’s stock valued at $4,703,000 after buying an additional 67,218 shares during the period. Finally, Sei Investments Co. raised its position in PENN Entertainment by 13.9% during the 3rd quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock worth $31,510,000 after buying an additional 167,445 shares during the last quarter. Hedge funds and other institutional investors 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.