JMP Securities Reiterates “Market Perform” Rating for PENN Entertainment (NASDAQ:PENN)

PENN Entertainment (NASDAQ:PENN)‘s stock had its “market perform” rating reissued by investment analysts at JMP Securities in a note issued to investors on Tuesday, Benzinga reports.

PENN has been the topic of a number of other research reports. Mizuho began coverage on PENN Entertainment in a report on Tuesday, March 26th. They issued a “buy” rating and a $29.00 target price on the stock. Truist Financial upgraded PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday. Stifel Nicolaus dropped their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Macquarie dropped their price target on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Finally, Barclays dropped their price target on PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, PENN Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $29.80.

PENN Entertainment Stock Up 2.4 %

PENN stock opened at $17.84 on Tuesday. PENN Entertainment has a twelve month low of $15.88 and a twelve month high of $31.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The stock’s 50 day moving average is $17.65 and its 200-day moving average is $21.39. The firm has a market capitalization of $2.72 billion, a PE ratio of -4.90 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. Sell-side analysts expect that PENN Entertainment will post -0.86 EPS for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Hedge funds have recently made changes to their positions in the stock. Harbor Investment Advisory LLC purchased a new position in shares of PENN Entertainment in the fourth quarter valued at $32,000. Huntington National Bank grew its position in PENN Entertainment by 324.8% during the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after buying an additional 1,072 shares in the last quarter. Lindbrook Capital LLC grew its position in PENN Entertainment by 57.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after buying an additional 553 shares in the last quarter. Neo Ivy Capital Management purchased a new position in PENN Entertainment during the fourth quarter worth about $40,000. Finally, Signaturefd LLC grew its position in PENN Entertainment by 60.8% during the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock worth $44,000 after buying an additional 727 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.