PENN Entertainment, Inc. (NASDAQ:PENN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $25.10.

A number of analysts have recently issued reports on PENN shares. Truist Financial increased their price target on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Wednesday, May 15th. Bank of America lowered shares of PENN Entertainment from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $28.00 to $17.50 in a research report on Monday, May 13th. Craig Hallum raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and increased their price target for the stock from $20.00 to $30.00 in a research report on Friday, June 21st. Finally, Mizuho raised their price objective on shares of PENN Entertainment from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, May 3rd.

Insider Transactions at PENN Entertainment

In related news, CFO Felicia Hendrix acquired 16,157 shares of the stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the purchase, the chief financial officer now owns 68,596 shares in the company, valued at approximately $1,061,180.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Felicia Hendrix acquired 16,157 shares of the stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the purchase, the chief financial officer now owns 68,596 shares in the company, valued at approximately $1,061,180.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Handler acquired 40,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was bought at an average price of $14.94 per share, for a total transaction of $597,600.00. Following the purchase, the director now owns 283,450 shares of the company’s stock, valued at approximately $4,234,743. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 76,157 shares of company stock worth $1,154,949. Insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On PENN Entertainment

A number of institutional investors have recently bought and sold shares of PENN. Envestnet Asset Management Inc. boosted its stake in PENN Entertainment by 112.4% during the third quarter. Envestnet Asset Management Inc. now owns 250,172 shares of the company’s stock worth $5,741,000 after buying an additional 132,392 shares in the last quarter. Gotham Asset Management LLC boosted its stake in PENN Entertainment by 14.3% during the third quarter. Gotham Asset Management LLC now owns 67,506 shares of the company’s stock worth $1,549,000 after buying an additional 8,442 shares in the last quarter. Sei Investments Co. boosted its stake in PENN Entertainment by 13.9% during the third quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock worth $31,510,000 after buying an additional 167,445 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in PENN Entertainment during the third quarter worth $2,234,000. Finally, Westside Investment Management Inc. boosted its stake in PENN Entertainment by 3.7% during the third quarter. Westside Investment Management Inc. now owns 14,852 shares of the company’s stock worth $341,000 after buying an additional 525 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

Shares of PENN opened at $20.04 on Friday. PENN Entertainment has a one year low of $13.50 and a one year high of $29.38. The company has a 50-day moving average of $17.19 and a two-hundred day moving average of $19.13. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -2.66 and a beta of 2.11. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.04 and a quick ratio of 1.04.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, May 2nd. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.20). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. On average, equities research analysts expect that PENN Entertainment will post -1.35 earnings per share for the current year.

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.