PENN Entertainment, Inc. (NASDAQ:PENN) Receives $23.77 Consensus PT from Analysts

PENN Entertainment, Inc. (NASDAQ:PENN) has received a consensus rating of “Hold” from the seventeen brokerages that are covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $23.77.

PENN has been the topic of several research reports. Barclays lifted their price objective on shares of PENN Entertainment from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Susquehanna restated a “positive” rating and set a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, June 21st. Stifel Nicolaus raised their price objective on PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Truist Financial boosted their target price on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, Macquarie restated an “outperform” rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Friday, August 9th.

PENN Entertainment Trading Up 0.1 %

Shares of NASDAQ PENN opened at $20.08 on Wednesday. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $27.20. The firm has a market cap of $3.06 billion, a PE ratio of -2.70 and a beta of 2.10. The business has a fifty day simple moving average of $18.92 and a two-hundred day simple moving average of $17.98. 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 (NASDAQ:PENN) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 earnings per share. Analysts expect that PENN Entertainment will post -1.41 earnings per share for the current fiscal year.

Insider Activity

In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the acquisition, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $18.44 per share, with a total value of $999,448.00. Following the completion of the acquisition, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anuj Dhanda acquired 15,000 shares of PENN Entertainment stock in a transaction on Friday, September 6th. The shares were bought at an average price of $18.40 per share, with a total value of $276,000.00. Following the purchase, the director now directly owns 31,523 shares in the company, valued at approximately $580,023.20. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 79,200 shares of company stock valued at $1,450,548. Company insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PENN. Flight Deck Capital LP purchased a new position in shares of PENN Entertainment during the 4th quarter valued at approximately $3,511,000. Contrarius Investment Management Ltd raised its position in shares of PENN Entertainment by 139.0% in 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 during the period. Seven Eight Capital LP boosted its stake in shares of PENN Entertainment by 95.3% during the 4th quarter. Seven Eight Capital LP now owns 213,019 shares of the company’s stock worth $5,543,000 after acquiring an additional 103,937 shares in the last quarter. Vanguard Group Inc. grew its position in shares of PENN Entertainment by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock valued at $383,273,000 after acquiring an additional 97,945 shares during the period. Finally, Gabelli Funds LLC increased its stake in shares of PENN Entertainment by 50.0% in the 4th quarter. Gabelli Funds LLC now owns 24,000 shares of the company’s stock valued at $624,000 after purchasing an additional 8,000 shares in the last quarter. 91.69% of the stock is 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.