Morgan Stanley Trims PENN Entertainment (NASDAQ:PENN) Target Price to $19.00

PENN Entertainment (NASDAQ:PENN) had its price objective reduced by Morgan Stanley from $20.00 to $19.00 in a report released on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price objective 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. Wells Fargo & Company increased their price target on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Macquarie reiterated an “outperform” rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.96.

PENN Entertainment Price Performance

NASDAQ:PENN opened at $19.91 on Tuesday. The firm’s fifty day moving average is $18.93 and its two-hundred day moving average is $18.12. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -2.45 and a beta of 2.10. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. PENN Entertainment has a one year low of $13.50 and a one year high of $27.20.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, topping 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 business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company earned $0.48 EPS. The business’s revenue was down .7% on a year-over-year basis. Research analysts expect that PENN Entertainment will post -1.37 EPS for the current year.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler purchased 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the acquisition, the director now owns 293,450 shares in the company, valued at $5,138,309.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David A. Handler purchased 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the transaction, the director now directly owns 293,450 shares in the company, valued at approximately $5,138,309.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jay A. Snowden bought 54,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased 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 represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 79,200 shares of company stock worth $1,450,548 over the last quarter. 2.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Driehaus Capital Management LLC purchased a new stake in PENN Entertainment during the second quarter worth approximately $4,535,000. Vanguard Group Inc. lifted its position in shares of PENN Entertainment by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock worth $383,273,000 after buying an additional 97,945 shares during the last quarter. Capstone Investment Advisors LLC boosted its holdings in shares of PENN Entertainment by 281.4% in the 1st 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 purchased a new position in shares of PENN Entertainment in the 1st quarter valued at $1,098,000. Finally, Cetera Advisors LLC increased its position in shares of PENN Entertainment by 184.3% during the first quarter. Cetera Advisors LLC now owns 60,708 shares of the company’s stock worth $1,105,000 after purchasing an additional 39,356 shares in the last quarter. 91.69% of the stock is 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.