PENN Entertainment, Inc. (NASDAQ:PENN) Receives $23.68 Consensus Price Target from Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given a consensus rating of “Moderate Buy” by the sixteen research firms that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $23.68.

Several research firms have recently weighed in on PENN. Morgan Stanley reduced their price objective on PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Needham & Company LLC restated a “buy” rating and set a $26.00 price objective on shares of PENN Entertainment in a research note on Tuesday, October 8th. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. Barclays lifted their target price on PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Raymond James downgraded PENN Entertainment from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th.

PENN Entertainment Stock Up 0.2 %

Shares of NASDAQ:PENN opened at $18.51 on Friday. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $27.20. The company’s 50-day moving average price is $18.87 and its two-hundred day moving average price is $18.06. The firm has a market cap of $2.82 billion, a P/E ratio of -2.48 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 (NASDAQ:PENN) last released its earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, topping 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 previous year, the business earned $0.48 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, research analysts forecast that PENN Entertainment will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jay A. Snowden acquired 54,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the transaction, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at $15,730,149.80. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director David A. Handler purchased 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, with a total value of $175,100.00. Following the acquisition, the director now owns 293,450 shares of the company’s stock, valued at $5,138,309.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jay A. Snowden acquired 54,200 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the transaction, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 79,200 shares of company stock worth $1,450,548. Company insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On PENN Entertainment

Several hedge funds have recently modified their holdings of PENN. GAMMA Investing LLC boosted its stake in shares of PENN Entertainment by 233.6% during the second 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 position in PENN Entertainment in the 4th quarter valued at approximately $40,000. J.Safra Asset Management Corp bought a new position in shares of PENN Entertainment during the second quarter valued at $83,000. Quarry LP lifted its holdings in shares of PENN Entertainment by 76.7% during the second quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after purchasing an additional 1,862 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of PENN Entertainment by 18.3% in the second quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock worth $183,000 after purchasing an additional 1,555 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.