PENN Entertainment, Inc. (NASDAQ:PENN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $23.75.

A number of analysts have recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Company increased their target price on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Barclays dropped their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday.

Insider Activity

In other PENN Entertainment news, CEO Jay A. Snowden acquired 54,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $18.44 per share, with a total value of $999,448.00. Following the acquisition, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at $15,730,149.80. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Anuj Dhanda acquired 15,000 shares of PENN Entertainment stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the acquisition, the director now directly owns 31,523 shares of the company’s stock, valued at $580,023.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jay A. Snowden bought 54,200 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the purchase, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 79,200 shares of company stock valued at $1,450,548. Insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Driehaus Capital Management LLC bought a new stake in PENN Entertainment during the second quarter worth approximately $4,535,000. Vanguard Group Inc. lifted its holdings in shares of PENN Entertainment by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock valued at $383,273,000 after buying an additional 97,945 shares during the period. Capstone Investment Advisors LLC boosted its stake in PENN Entertainment by 281.4% during the first quarter. Capstone Investment Advisors LLC now owns 59,049 shares of the company’s stock valued at $1,075,000 after buying an additional 43,566 shares in the last quarter. Virtu Financial LLC acquired a new position in PENN Entertainment during the first quarter worth about $1,098,000. Finally, Cetera Advisors LLC raised its position in PENN Entertainment by 184.3% in the first quarter. Cetera Advisors LLC now owns 60,708 shares of the company’s stock worth $1,105,000 after acquiring an additional 39,356 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $18.99 on Friday. The company’s fifty day moving average price is $18.92 and its two-hundred day moving average price is $18.08. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $2.89 billion, a P/E ratio of -2.55 and a beta of 2.10. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $27.20.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the business posted $0.48 earnings per share. PENN Entertainment’s revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts anticipate that PENN Entertainment will post -1.32 earnings per share for the current fiscal year.

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.