PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given a consensus rating of “Hold” by the eighteen ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $22.80.

A number of equities analysts have recently issued reports on the company. Barclays cut their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Citigroup reissued an “outperform” rating on shares of PENN Entertainment in a research note on Friday, August 8th. Needham & Company LLC cut their target price on PENN Entertainment from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 8th. JMP Securities increased their target price on PENN Entertainment from $24.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, August 8th. Finally, Stifel Nicolaus increased their target price on PENN Entertainment from $17.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, July 11th.

Insiders Place Their Bets

In other news, Director David A. Handler acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $16.96 per share, with a total value of $339,200.00. Following the purchase, the director directly owned 342,941 shares of the company’s stock, valued at approximately $5,816,279.36. This trade represents a 6.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 2.67% of the stock is owned by insiders.

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in PENN Entertainment by 22.4% in the 3rd quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock valued at $59,000 after purchasing an additional 556 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in PENN Entertainment by 1.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company’s stock valued at $1,245,000 after purchasing an additional 745 shares in the last quarter. Parallel Advisors LLC increased its stake in PENN Entertainment by 152.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,397 shares of the company’s stock valued at $25,000 after purchasing an additional 843 shares in the last quarter. Keybank National Association OH increased its stake in PENN Entertainment by 6.3% in the 2nd quarter. Keybank National Association OH now owns 14,655 shares of the company’s stock valued at $262,000 after purchasing an additional 870 shares in the last quarter. Finally, J.Safra Asset Management Corp increased its stake in PENN Entertainment by 6.7% in the 1st quarter. J.Safra Asset Management Corp now owns 13,877 shares of the company’s stock valued at $226,000 after purchasing an additional 877 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Stock Down 4.3%

PENN opened at $16.61 on Thursday. The business has a 50 day moving average price of $18.76 and a two-hundred day moving average price of $17.41. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 2.39. The company has a market cap of $2.43 billion, a PE ratio of -29.66 and a beta of 1.60. PENN Entertainment has a 52 week low of $13.25 and a 52 week high of $23.08.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.14. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.18) EPS. As a group, research analysts anticipate that PENN Entertainment will post -1.61 EPS for the current year.

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.