PENN Entertainment, Inc. (NASDAQ:PENN) Receives $23.77 Average PT from Analysts

PENN Entertainment, Inc. (NASDAQ:PENN) has been assigned an average recommendation of “Hold” from the seventeen ratings firms that are covering the company, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $23.77.

A number of brokerages have recently issued reports on PENN. Morgan Stanley reduced their price objective on 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. Stifel Nicolaus lifted their price target on PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Craig Hallum upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and raised their target price for the stock from $20.00 to $30.00 in a report on Friday, June 21st. Finally, Susquehanna reiterated a “positive” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Friday, June 21st.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $20.08 on Wednesday. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -2.70 and a beta of 2.10. The business has a 50 day moving average of $18.92 and a 200 day moving average of $17.98. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $27.20.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the company earned $0.48 EPS. The firm’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts predict that PENN Entertainment will post -1.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David A. Handler bought 10,000 shares of PENN Entertainment stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the acquisition, the director now owns 293,450 shares of the company’s stock, valued at $5,138,309.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director David A. Handler acquired 10,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was acquired at an average price of $17.51 per share, with a total value of $175,100.00. Following the completion of the transaction, the director now owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Anuj Dhanda bought 15,000 shares of PENN Entertainment stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the transaction, the director now directly owns 31,523 shares in the company, valued at $580,023.20. The disclosure for this purchase can be found here. Insiders purchased 79,200 shares of company stock worth $1,450,548 over the last three months. Company insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in PENN. GAMMA Investing LLC grew its stake in shares of PENN Entertainment by 233.6% in the 2nd 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 fourth quarter worth $40,000. J.Safra Asset Management Corp bought a new position in shares of PENN Entertainment during the second quarter valued at $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 valued at $83,000 after acquiring an additional 1,862 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its position in shares of PENN Entertainment by 123,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock worth $96,000 after purchasing an additional 3,691 shares during the last quarter. 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.