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

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given a consensus rating of “Hold” by the seventeen analysts that are presently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $23.77.

Several research firms have commented on PENN. Macquarie reiterated an “outperform” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, August 9th. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Stifel Nicolaus raised their target price on PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Susquehanna reissued a “positive” rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Friday, June 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $26.00 price objective on shares of PENN Entertainment in a report on Thursday, August 8th.

PENN Entertainment Stock Up 0.1 %

PENN stock opened at $20.08 on Wednesday. The firm has a market capitalization of $3.06 billion, a PE ratio of -2.70 and a beta of 2.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.35. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $27.20. The stock’s 50 day moving average is $18.92 and its 200-day moving average is $17.98.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 EPS. Sell-side analysts expect that PENN Entertainment will post -1.41 EPS for the current fiscal year.

Insider Transactions at PENN Entertainment

In related news, Director David A. Handler acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the purchase, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director David A. Handler acquired 10,000 shares of PENN Entertainment stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average price of $17.51 per share, with a total value of $175,100.00. Following the completion of the purchase, the director now owns 293,450 shares in the company, valued at $5,138,309.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anuj Dhanda bought 15,000 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the purchase, the director now directly owns 31,523 shares in the company, valued at $580,023.20. The disclosure for this purchase can be found here. Insiders purchased 79,200 shares of company stock valued at $1,450,548 over the last three months. Company insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after acquiring an additional 1,009 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in PENN Entertainment in the fourth quarter valued at approximately $40,000. TFO Wealth Partners LLC lifted its position in PENN Entertainment by 123,033.3% during the fourth quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock valued at $96,000 after purchasing an additional 3,691 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in PENN Entertainment in the 2nd quarter worth approximately $83,000. Finally, Quarry LP increased its holdings in shares of PENN Entertainment by 76.7% in the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after buying an additional 1,862 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other 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.