PENN Entertainment (NASDAQ:PENN) Cut to Sell at StockNews.com

PENN Entertainment (NASDAQ:PENN) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Several other research firms have also recently weighed in on PENN. Mizuho lowered their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Jefferies Financial Group lifted their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Friday. Wells Fargo & Company increased their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Bank of America assumed coverage on shares of PENN Entertainment in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 target price for the company. Finally, Barclays lowered their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.44.

PENN Entertainment Price Performance

NASDAQ PENN traded down $0.67 during trading hours on Tuesday, hitting $19.00. The company had a trading volume of 3,344,025 shares, compared to its average volume of 3,328,031. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of -5.35 and a beta of 2.08. PENN Entertainment has a 52 week low of $13.50 and a 52 week high of $25.53. The firm has a 50 day simple moving average of $19.98 and a 200 day simple moving average of $19.33.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. PENN Entertainment’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts expect that PENN Entertainment will post -1.55 earnings per share for the current year.

Institutional Investors Weigh In On PENN Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. Modus Advisors LLC bought a new position in shares of PENN Entertainment during the fourth quarter valued at about $63,000. Tidal Investments LLC increased its holdings in PENN Entertainment by 35.2% during the 3rd quarter. Tidal Investments LLC now owns 14,888 shares of the company’s stock valued at $281,000 after purchasing an additional 3,879 shares during the period. Neo Ivy Capital Management bought a new position in PENN Entertainment during the 3rd quarter valued at approximately $716,000. Sender Co & Partners Inc. purchased a new stake in PENN Entertainment in the 3rd quarter worth approximately $321,000. Finally, M&T Bank Corp grew its position in shares of PENN Entertainment by 4.2% in the 3rd quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock worth $235,000 after buying an additional 497 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

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.