PENN Entertainment’s (PENN) Hold Rating Reiterated at Benchmark

PENN Entertainment (NASDAQ:PENN)‘s stock had its “hold” rating reaffirmed by analysts at Benchmark in a research note issued on Friday,Benzinga reports.

Several other analysts have also recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. Craig Hallum reaffirmed a “buy” rating and issued a $30.00 target price on shares of PENN Entertainment in a report on Tuesday, October 8th. Wells Fargo & Company raised their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Morgan Stanley reduced their target price on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.89.

PENN Entertainment Stock Down 2.6 %

Shares of PENN opened at $19.70 on Friday. The stock has a market capitalization of $3.01 billion, a PE ratio of -2.43 and a beta of 2.09. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $27.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. The company’s 50-day simple moving average is $18.98 and its 200-day simple moving average is $18.31.

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 the consensus estimate of ($0.28) by $0.04. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 earnings per share. Analysts forecast that PENN Entertainment will post -1.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Anuj Dhanda purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $18.40 per share, with a total value of $276,000.00. Following the completion of the acquisition, the director now directly owns 31,523 shares in the company, valued at $580,023.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Anuj Dhanda purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $18.40 per share, with a total value of $276,000.00. Following the completion of the acquisition, the director now directly owns 31,523 shares in the company, valued at $580,023.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David A. Handler bought 10,000 shares of PENN Entertainment stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost 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 $5,138,309.50. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 79,200 shares of company stock valued at $1,450,548 over the last three months. 2.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PENN Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in PENN Entertainment by 233.6% in the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after acquiring an additional 1,009 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in PENN Entertainment in the third quarter valued at $45,000. Quest Partners LLC acquired a new stake in PENN Entertainment in the third quarter valued at $56,000. International Assets Investment Management LLC lifted its holdings in PENN Entertainment by 1,634.8% in the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after acquiring an additional 3,057 shares during the period. Finally, J.Safra Asset Management Corp acquired a new stake in PENN Entertainment in the second quarter valued at $83,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.