Susquehanna Has Lowered Expectations for PENN Entertainment (NASDAQ:PENN) Stock Price

PENN Entertainment (NASDAQ:PENN) had its target price cut by equities researchers at Susquehanna from $26.00 to $25.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price objective indicates a potential upside of 36.31% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Mizuho cut their target price on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. Wells Fargo & Company raised their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Stifel Nicolaus upped their price objective on PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.89.

PENN Entertainment Stock Down 3.8 %

PENN Entertainment stock opened at $18.34 on Monday. The company has a market cap of $2.80 billion, a P/E ratio of -2.26 and a beta of 2.09. The company has a fifty day simple moving average of $18.94 and a 200 day simple moving average of $18.29. 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 issued its earnings results 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 business had revenue of $1.66 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. Research analysts anticipate that PENN Entertainment will post -1.36 earnings per share for the current fiscal year.

Insider Buying and Selling at PENN Entertainment

In related news, Director Anuj Dhanda purchased 15,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $18.40 per share, with a total value of $276,000.00. Following the transaction, the director now owns 31,523 shares of the company’s stock, valued at $580,023.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PENN Entertainment news, Director Anuj Dhanda purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired 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 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay A. Snowden purchased 54,200 shares of PENN Entertainment 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 transaction, the chief executive officer now 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 disclosure for this purchase can be found here. Over the last three months, insiders have acquired 79,200 shares of company stock valued at $1,450,548. Corporate insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew 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 valued at $28,000 after buying an additional 1,009 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in PENN Entertainment during the third quarter valued at approximately $45,000. International Assets Investment Management LLC grew its holdings 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. J.Safra Asset Management Corp purchased a new position in shares of PENN Entertainment in the second quarter worth about $83,000. Finally, Quarry LP grew its holdings in shares of PENN Entertainment by 76.7% in 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 last quarter. Institutional investors 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.