PENN Entertainment (NASDAQ:PENN) Rating Increased to Buy at Craig Hallum

PENN Entertainment (NASDAQ:PENN) was upgraded by investment analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued on Friday, Briefing.com reports. The firm presently has a $30.00 target price on the stock. Craig Hallum’s price objective would suggest a potential upside of 49.70% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Bank of America cut PENN Entertainment from a “buy” rating to a “neutral” rating and cut their price objective for the company from $28.00 to $17.50 in a report on Monday, May 13th. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a research report on Wednesday, May 15th. Canaccord Genuity Group lowered their price objective on shares of PENN Entertainment from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research report on Friday, May 3rd. Finally, Morgan Stanley raised their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.10.

PENN Entertainment Stock Up 9.9 %

Shares of NASDAQ PENN opened at $20.04 on Friday. The stock has a market cap of $3.06 billion, a PE ratio of -2.69 and a beta of 2.06. The business has a fifty day moving average of $16.65 and a two-hundred day moving average of $19.70. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $29.38. 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 (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. As a group, equities research analysts expect that PENN Entertainment will post -1.35 earnings per share for the current fiscal year.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler acquired 20,000 shares of PENN Entertainment stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the purchase, the director now directly owns 243,450 shares in the company, valued at approximately $3,741,826.50. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director David A. Handler bought 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average cost of $14.94 per share, for a total transaction of $597,600.00. Following the purchase, the director now owns 283,450 shares of the company’s stock, valued at approximately $4,234,743. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Handler bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average price of $15.37 per share, with a total value of $307,400.00. Following the completion of the purchase, the director now directly owns 243,450 shares in the company, valued at approximately $3,741,826.50. The disclosure for this purchase can be found here. Insiders acquired a total of 76,157 shares of company stock worth $1,154,949 in the last three months. Insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On PENN Entertainment

Hedge funds have recently bought and sold shares of the company. Harbor Investment Advisory LLC acquired a new stake in PENN Entertainment in the 4th quarter valued at about $32,000. Lindbrook Capital LLC lifted its stake in PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after purchasing an additional 553 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in PENN Entertainment in the 4th quarter valued at about $40,000. Tyler Stone Wealth Management lifted its stake in PENN Entertainment by 34.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock valued at $45,000 after purchasing an additional 500 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in PENN Entertainment in the 3rd quarter valued at about $55,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.