PENN Entertainment’s (PENN) Market Perform Rating Reaffirmed at JMP Securities

PENN Entertainment (NASDAQ:PENN)‘s stock had its “market perform” rating reissued by equities research analysts at JMP Securities in a research report issued on Thursday,Benzinga reports.

A number of other equities analysts have also recently weighed in on PENN. StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. Bank of America assumed coverage on shares of PENN Entertainment in a research note on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price target on the stock. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a report on Friday, November 8th. Barclays decreased their target price on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Finally, Mizuho cut their price target on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.44.

PENN Entertainment Price Performance

PENN traded down $0.22 on Thursday, reaching $19.95. The company had a trading volume of 578,495 shares, compared to its average volume of 6,094,146. 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 52-week low of $13.50 and a 52-week high of $24.57. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -5.62, a P/E/G ratio of 1.27 and a beta of 2.08. The business has a 50 day simple moving average of $19.94 and a 200 day simple moving average of $19.34.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data 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. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. As a group, sell-side analysts anticipate that PENN Entertainment will post -1.54 EPS for the current year.

Institutional Investors Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its stake in shares of PENN Entertainment by 8.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company’s stock worth $11,851,000 after buying an additional 46,209 shares during the last quarter. Modus Advisors LLC purchased a new position in PENN Entertainment in the fourth quarter worth about $63,000. Tidal Investments LLC grew its stake in shares of PENN Entertainment by 35.2% during the 3rd quarter. Tidal Investments LLC now owns 14,888 shares of the company’s stock valued at $281,000 after purchasing an additional 3,879 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of PENN Entertainment during the 3rd quarter valued at about $716,000. Finally, Sender Co & Partners Inc. bought a new position in shares of PENN Entertainment in the 3rd quarter worth approximately $321,000. Hedge funds and other institutional investors 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.