Stifel Nicolaus Increases PENN Entertainment (NASDAQ:PENN) Price Target to $20.00

PENN Entertainment (NASDAQ:PENN) had its price objective raised by Stifel Nicolaus from $19.00 to $20.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other research analysts have also commented on the stock. Benchmark reiterated a hold rating on shares of PENN Entertainment in a research note on Friday, May 3rd. Barclays dropped their price objective on PENN Entertainment from $26.00 to $22.00 and set an overweight rating on the stock in a research note on Friday, May 3rd. JMP Securities restated a market perform rating on shares of PENN Entertainment in a report on Tuesday, June 4th. Canaccord Genuity Group lowered their target price on PENN Entertainment from $32.00 to $28.00 and set a buy rating on the stock in a report on Monday, April 29th. Finally, Truist Financial upped their price target on shares of PENN Entertainment from $23.00 to $25.00 and gave the company a buy rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, PENN Entertainment currently has an average rating of Hold and a consensus price target of $23.83.

PENN Entertainment Trading Up 2.5 %

Shares of PENN stock opened at $18.70 on Friday. The firm has a market capitalization of $2.85 billion, a PE ratio of -2.51 and a beta of 2.11. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $27.20. The stock has a fifty day moving average of $18.71 and a two-hundred day moving average of $18.19.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.09. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, research analysts expect that PENN Entertainment will post -1.35 EPS for the current year.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler bought 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was acquired at an average price of $14.94 per share, with a total value of $597,600.00. Following the completion of the transaction, the director now directly owns 283,450 shares in the company, valued at approximately $4,234,743. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.19% of the company’s stock.

Institutional Trading of PENN Entertainment

Hedge funds have recently made changes to their positions in the stock. Flight Deck Capital LP acquired a new position in PENN Entertainment in the 4th quarter valued at approximately $3,511,000. Contrarius Investment Management Ltd raised its holdings in shares of PENN Entertainment by 139.0% during the fourth quarter. Contrarius Investment Management Ltd now owns 892,394 shares of the company’s stock worth $23,220,000 after acquiring an additional 518,995 shares in the last quarter. Seven Eight Capital LP boosted its position in PENN Entertainment by 95.3% during the fourth quarter. Seven Eight Capital LP now owns 213,019 shares of the company’s stock valued at $5,543,000 after purchasing an additional 103,937 shares during the last quarter. Vanguard Group Inc. grew its stake in 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 purchasing an additional 97,945 shares in the last quarter. Finally, Gabelli Funds LLC increased its position in PENN Entertainment by 50.0% in the 4th quarter. Gabelli Funds LLC now owns 24,000 shares of the company’s stock worth $624,000 after purchasing an additional 8,000 shares during the last quarter. 91.69% of the stock is 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.