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

PENN Entertainment, Inc. (NASDAQ:PENN) has earned an average rating of “Moderate Buy” from the sixteen analysts that are currently 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 target price among brokers that have updated their coverage on the stock in the last year is $23.29.

Several analysts recently weighed in on PENN shares. Bank of America assumed coverage on PENN Entertainment in a report on Wednesday. They issued a “neutral” rating and a $22.00 price objective for the company. Truist Financial decreased their price objective on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Mizuho dropped their target price on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, November 8th.

PENN Entertainment Trading Down 1.4 %

Shares of PENN opened at $21.23 on Thursday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. PENN Entertainment has a one year low of $13.50 and a one year high of $27.20. The stock has a 50-day moving average price of $19.12 and a 200 day moving average price of $18.40. The company has a market capitalization of $3.24 billion, a P/E ratio of -5.98 and a beta of 2.09.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly 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 14.44%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that PENN Entertainment will post -1.5 EPS for the current fiscal year.

Insider Activity at PENN Entertainment

In related news, Director David A. Handler bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the transaction, the director now directly owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jay A. Snowden purchased 54,200 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the transaction, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Handler acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price 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 approximately $5,138,309.50. This trade represents a 0.00 % increase in their ownership of the stock. 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 over the last ninety days. 2.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in PENN Entertainment by 1.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 307,300 shares of the company’s stock worth $5,796,000 after buying an additional 5,500 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of PENN Entertainment by 84.7% in the 3rd quarter. Quantbot Technologies LP now owns 208,094 shares of the company’s stock valued at $3,925,000 after acquiring an additional 95,423 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in PENN Entertainment in the 3rd quarter worth approximately $1,699,000. Charles Schwab Investment Management Inc. grew its position in PENN Entertainment by 12.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,282,024 shares of the company’s stock worth $24,179,000 after purchasing an additional 146,645 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in PENN Entertainment during the 3rd quarter valued at $645,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.