PENN Entertainment (NASDAQ:PENN) Upgraded to “Buy” at Craig Hallum

Craig Hallum upgraded shares of PENN Entertainment (NASDAQ:PENN) from a hold rating to a buy rating in a research note released on Friday morning, MarketBeat reports. They currently have $30.00 target price on the stock, up from their previous target price of $20.00.

Other equities research analysts have also recently issued research reports about the company. Barclays decreased their target price on PENN Entertainment from $26.00 to $22.00 and set an overweight rating for the company in a research note on Friday, May 3rd. Wells Fargo & Company lowered their price objective on shares of PENN Entertainment from $21.00 to $18.00 and set an equal weight rating for the company in a research note on Friday, May 3rd. Canaccord Genuity Group cut their target price on shares of PENN Entertainment from $32.00 to $28.00 and set a buy rating on the stock in a research note on Monday, April 29th. Susquehanna reduced their price target on shares of PENN Entertainment from $27.00 to $26.00 and set a positive rating for the company in a report on Friday, May 31st. Finally, Mizuho upped their price objective on shares of PENN Entertainment from $29.00 to $32.00 and gave the company a buy rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $25.10.

PENN Entertainment Trading Down 1.0 %

PENN opened at $19.83 on Friday. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $29.38. The company has a fifty day moving average of $16.71 and a 200-day moving average of $19.66. The stock has a market cap of $3.02 billion, a PE ratio of -2.66 and a beta of 2.06. 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 issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. On average, sell-side analysts predict that PENN Entertainment will post -1.35 EPS for the current year.

Insider Transactions at PENN Entertainment

In related news, CFO Felicia Hendrix bought 16,157 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $15.47 per share, with a total value of $249,948.79. Following the completion of the transaction, the chief financial officer now directly owns 68,596 shares in the company, valued at $1,061,180.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director David A. Handler acquired 20,000 shares of PENN Entertainment stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of $15.37 per share, with a total value of $307,400.00. Following the transaction, 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 is available through the SEC website. Also, CFO Felicia Hendrix bought 16,157 shares of the company’s stock in a transaction on Monday, May 6th. The shares were purchased at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the transaction, the chief financial officer now owns 68,596 shares in the company, valued at $1,061,180.12. The disclosure for this purchase can be found here. Insiders purchased a total of 76,157 shares of company stock valued at $1,154,949 over the last ninety days. 2.19% of the stock is currently owned by insiders.

Institutional Trading of PENN Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of PENN. Cetera Advisors LLC raised its stake in shares of PENN Entertainment by 184.3% during the 1st quarter. Cetera Advisors LLC now owns 60,708 shares of the company’s stock worth $1,105,000 after purchasing an additional 39,356 shares during the period. Cetera Investment Advisers raised its position in PENN Entertainment by 186.2% in the first quarter. Cetera Investment Advisers now owns 126,807 shares of the company’s stock worth $2,309,000 after acquiring an additional 82,494 shares during the period. Sona Asset Management US LLC purchased a new position in PENN Entertainment in the first quarter valued at about $1,821,000. Virtu Financial LLC bought a new position in shares of PENN Entertainment during the 1st quarter valued at approximately $1,098,000. Finally, Invenomic Capital Management LP increased its stake in shares of PENN Entertainment by 71.9% during the 1st quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock worth $34,313,000 after purchasing an additional 787,968 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.