Brokerages Set PENN Entertainment, Inc. (NASDAQ:PENN) PT at $22.89

PENN Entertainment, Inc. (NASDAQ:PENN) has received an average recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the stock, 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 target among analysts that have covered the stock in the last year is $22.96.

Several brokerages have issued reports on PENN. Susquehanna lowered their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a report on Monday, November 4th. Truist Financial lowered their price target on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Friday. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. Finally, Benchmark reissued a “hold” rating on shares of PENN Entertainment in a report on Friday.

Insider Buying and Selling

In related news, CEO Jay A. Snowden purchased 54,200 shares of PENN Entertainment stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the transaction, 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 filing with the SEC, which is available through this link. In other PENN Entertainment news, Director Anuj Dhanda bought 15,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the transaction, the director now owns 31,523 shares in the company, valued at approximately $580,023.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jay A. Snowden bought 54,200 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the transaction, the chief executive officer now owns 853,045 shares in the company, valued at approximately $15,730,149.80. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 79,200 shares of company stock worth $1,450,548 in the last 90 days. Corporate insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. acquired a new position in PENN Entertainment during the 3rd quarter valued at about $645,000. Jennison Associates LLC lifted its position in PENN Entertainment by 103.9% during the 3rd quarter. Jennison Associates LLC now owns 768,503 shares of the company’s stock valued at $14,494,000 after purchasing an additional 391,640 shares during the period. Pathstone Holdings LLC lifted its position in PENN Entertainment by 10.2% during the 3rd quarter. Pathstone Holdings LLC now owns 394,244 shares of the company’s stock valued at $7,435,000 after purchasing an additional 36,347 shares during the period. Quest Partners LLC acquired a new position in PENN Entertainment during the 3rd quarter valued at about $56,000. Finally, Natixis Advisors LLC lifted its position in PENN Entertainment by 25.3% during the 3rd quarter. Natixis Advisors LLC now owns 303,655 shares of the company’s stock valued at $5,727,000 after purchasing an additional 61,285 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Trading Down 0.1 %

Shares of PENN stock opened at $20.46 on Thursday. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $27.20. The firm’s fifty day simple moving average is $19.02 and its 200 day simple moving average is $18.35. The firm has a market capitalization of $3.12 billion, a P/E ratio of -5.76 and a beta of 2.09. 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 (NASDAQ:PENN) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.38%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. PENN Entertainment’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that PENN Entertainment will post -1.41 EPS for the current year.

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.