PENN Entertainment, Inc. (NASDAQ:PENN) Director Saul Reibstein Sells 5,086 Shares

PENN Entertainment, Inc. (NASDAQ:PENNGet Rating) Director Saul Reibstein sold 5,086 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $38.03, for a total transaction of $193,420.58. Following the sale, the director now directly owns 34,663 shares in the company, valued at approximately $1,318,233.89. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

PENN Entertainment Stock Down 3.2 %

Shares of NASDAQ PENN traded down $1.18 during mid-day trading on Wednesday, reaching $36.03. 2,495,480 shares of the company were exchanged, compared to its average volume of 4,121,944. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.80. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 23.89 and a beta of 2.23. PENN Entertainment, Inc. has a 1 year low of $26.46 and a 1 year high of $86.40. The firm has a 50-day moving average of $32.36 and a 200 day moving average of $37.51.

PENN Entertainment (NASDAQ:PENNGet Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.35). PENN Entertainment had a net margin of 3.33% and a return on equity of 5.65%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the company earned $1.17 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts expect that PENN Entertainment, Inc. will post 1.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Venture Visionary Partners LLC increased its position in PENN Entertainment by 0.5% during the 4th quarter. Venture Visionary Partners LLC now owns 45,353 shares of the company’s stock valued at $2,351,000 after buying an additional 229 shares in the last quarter. Comerica Bank increased its holdings in shares of PENN Entertainment by 2.0% in the second quarter. Comerica Bank now owns 14,773 shares of the company’s stock valued at $489,000 after purchasing an additional 296 shares during the period. Securian Asset Management Inc. increased its holdings in shares of PENN Entertainment by 2.2% in the fourth quarter. Securian Asset Management Inc. now owns 13,624 shares of the company’s stock valued at $706,000 after purchasing an additional 298 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of PENN Entertainment by 19.8% in the first quarter. Daiwa Securities Group Inc. now owns 1,848 shares of the company’s stock valued at $78,000 after purchasing an additional 305 shares during the period. Finally, Eaton Vance Management increased its holdings in shares of PENN Entertainment by 0.7% in the fourth quarter. Eaton Vance Management now owns 42,445 shares of the company’s stock valued at $1,826,000 after purchasing an additional 312 shares during the period. 81.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PENN. Credit Suisse Group cut their target price on shares of PENN Entertainment to $66.00 in a research report on Tuesday, August 9th. Truist Financial cut their target price on shares of PENN Entertainment from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Barclays upped their price target on shares of PENN Entertainment from $37.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Jefferies Financial Group upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, May 18th. Finally, Wells Fargo & Company cut their price target on shares of PENN Entertainment from $48.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, July 14th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.50.

About PENN Entertainment

(Get Rating)

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates 44 properties in 20 states; online sports betting in 13 jurisdictions; and iCasino in five under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet.

Further Reading

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