PENN Entertainment, Inc. (NASDAQ:PENN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given a consensus rating of “Moderate Buy” by the sixteen analysts that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $23.29.

Several research analysts have issued reports on the company. Truist Financial cut their price objective on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Bank of America began coverage on shares of PENN Entertainment in a report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price target for the company. Barclays decreased their price objective on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. Finally, Mizuho decreased their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd.

Insiders Place Their Bets

In other PENN Entertainment news, Director Anuj Dhanda purchased 15,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $18.40 per share, with a total value of $276,000.00. Following the purchase, the director now owns 31,523 shares in the company, valued at approximately $580,023.20. This represents a 90.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jay A. Snowden acquired 54,200 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $18.44 per share, with a total value of $999,448.00. Following the purchase, the chief executive officer now owns 853,045 shares in the company, valued at approximately $15,730,149.80. The trade was a 6.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 79,200 shares of company stock valued at $1,450,548 in the last ninety days. Insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On PENN Entertainment

Institutional investors have recently bought and sold shares of the stock. Driehaus Capital Management LLC acquired a new position in shares of PENN Entertainment in the 2nd quarter valued at $4,535,000. Cetera Advisors LLC grew its position in PENN Entertainment by 184.3% during the first quarter. Cetera Advisors LLC now owns 60,708 shares of the company’s stock valued at $1,105,000 after acquiring an additional 39,356 shares during the period. Quantbot Technologies LP increased its stake in PENN Entertainment by 84.7% during the third quarter. Quantbot Technologies LP now owns 208,094 shares of the company’s stock worth $3,925,000 after acquiring an additional 95,423 shares during the last quarter. Public Sector Pension Investment Board purchased a new position in shares of PENN Entertainment in the 2nd quarter worth about $6,363,000. Finally, GAMMA Investing LLC lifted its stake in shares of PENN Entertainment by 233.6% in 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 in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $21.59 on Monday. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -6.08 and a beta of 2.09. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $27.20. The firm’s fifty day moving average price is $19.60 and its 200 day moving average price is $18.84.

PENN Entertainment (NASDAQ:PENN) last posted 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. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the company posted $1.21 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, sell-side analysts expect that PENN Entertainment will post -1.53 EPS for the current year.

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.