PENN Entertainment (NASDAQ:PENN) Trading Up 7.3%

PENN Entertainment, Inc. (NASDAQ:PENN)’s share price traded up 7.3% on Friday . The company traded as high as $19.83 and last traded at $19.52. 275,230 shares changed hands during trading, a decline of 95% from the average session volume of 6,058,799 shares. The stock had previously closed at $18.19.

Analyst Ratings Changes

Several research firms have commented on PENN. Susquehanna reissued a “positive” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, June 21st. Craig Hallum raised PENN Entertainment from a “hold” rating to a “buy” rating and boosted their price target for the stock from $20.00 to $30.00 in a research report on Friday, June 21st. Mizuho increased 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. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, June 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, PENN Entertainment has a consensus rating of “Hold” and a consensus price target of $25.03.

PENN Entertainment Trading Up 7.9 %

The stock has a market cap of $2.99 billion, a P/E ratio of -2.65 and a beta of 2.11. The firm’s 50 day simple moving average is $18.08 and its two-hundred day simple moving average is $18.68. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.20). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. As a group, equities research analysts predict that PENN Entertainment, Inc. will post -1.35 earnings per share for the current fiscal year.

Insider Activity at PENN Entertainment

In related news, Director David A. Handler bought 20,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the purchase, the director now owns 243,450 shares of the company’s stock, valued at approximately $3,741,826.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PENN Entertainment news, Director David A. Handler acquired 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average cost of $14.94 per share, with a total value of $597,600.00. Following the acquisition, the director now directly owns 283,450 shares of the company’s stock, valued at approximately $4,234,743. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David A. Handler bought 20,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were acquired at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the purchase, the director now directly owns 243,450 shares in the company, valued at $3,741,826.50. The disclosure for this purchase can be found here. Insiders purchased 76,157 shares of company stock worth $1,154,949 in the last 90 days. 2.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Harbor Investment Advisory LLC bought a new position in shares of PENN Entertainment in the fourth quarter valued at approximately $32,000. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 1,009 shares during the period. Lindbrook Capital LLC raised its stake in shares of PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after buying an additional 553 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at $40,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at $78,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.