PENN Entertainment (NASDAQ:PENN) Rating Reiterated by JMP Securities

PENN Entertainment (NASDAQ:PENN)‘s stock had its “market perform” rating reiterated by equities researchers at JMP Securities in a research report issued on Friday, Benzinga reports.

A number of other brokerages also recently commented on PENN. Barclays raised their price objective on PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their target price on PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a report on Thursday, August 8th. Macquarie reaffirmed an “outperform” rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday, August 9th. Finally, Morgan Stanley reduced their target price on PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.77.

PENN Entertainment Trading Up 2.7 %

PENN traded up $0.49 during trading on Friday, hitting $18.91. 577,738 shares of the company’s stock were exchanged, compared to its average volume of 5,402,615. The firm has a market cap of $2.88 billion, a P/E ratio of -2.54 and a beta of 2.10. The stock has a 50 day moving average price of $18.90 and a 200 day moving average price of $18.01. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $27.20.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $0.48 EPS. PENN Entertainment’s revenue was down .7% compared to the same quarter last year. As a group, analysts expect that PENN Entertainment will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling at PENN Entertainment

In related news, CEO Jay A. Snowden purchased 54,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $18.44 per share, with a total value of $999,448.00. Following the completion of the purchase, the chief executive officer now directly owns 853,045 shares in the company, valued at approximately $15,730,149.80. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Jay A. Snowden purchased 54,200 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the acquisition, the chief executive officer now directly owns 853,045 shares in the company, valued at $15,730,149.80. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anuj Dhanda bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the acquisition, the director now directly owns 31,523 shares of the company’s stock, valued at $580,023.20. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 79,200 shares of company stock worth $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

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of PENN Entertainment by 233.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after purchasing an additional 1,009 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of PENN Entertainment during the 4th quarter valued at about $40,000. J.Safra Asset Management Corp acquired a new stake in PENN Entertainment in the 2nd quarter worth about $83,000. Quarry LP boosted its holdings in 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. Finally, Blue Trust Inc. lifted its stake in PENN Entertainment by 18.3% in the 2nd quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock worth $183,000 after purchasing an additional 1,555 shares in the last quarter. 91.69% of the stock is 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.