Analysts Set PENN Entertainment, Inc. (NASDAQ:PENN) PT at $23.29

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $23.29.

Several brokerages have commented on PENN. Bank of America began coverage on PENN Entertainment in a report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 target price on the stock. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. Wells Fargo & Company boosted their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Macquarie boosted their target price on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Barclays dropped their target price on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th.

Insiders Place Their Bets

In other PENN Entertainment news, Director David A. Handler acquired 10,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the acquisition, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. This represents a 3.53 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anuj Dhanda acquired 15,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the acquisition, the director now directly owns 31,523 shares in the company, valued at approximately $580,023.20. The trade was a 90.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On PENN Entertainment

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after acquiring an additional 1,009 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in PENN Entertainment during the 3rd quarter worth $45,000. Quest Partners LLC purchased a new position in PENN Entertainment during the 3rd quarter worth $56,000. International Assets Investment Management LLC increased its position in shares of PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after purchasing an additional 3,057 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in shares of PENN Entertainment during the 2nd quarter valued at $83,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Trading Up 1.9 %

Shares of PENN stock opened at $21.91 on Monday. The stock’s fifty day moving average price is $19.77 and its two-hundred day moving average price is $18.95. The company has a market cap of $3.34 billion, a PE ratio of -6.17 and a beta of 2.08. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. Equities analysts predict that PENN Entertainment will post -1.53 EPS for the current fiscal year.

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.