PENN Entertainment (NASDAQ:PENN) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of PENN Entertainment (NASDAQ:PENN) from a sell rating to a hold rating in a research report released on Tuesday.

A number of other analysts have also recently commented on PENN. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research note on Friday, October 4th. Mizuho decreased their price objective on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. Finally, Craig Hallum restated a “buy” rating and issued a $30.00 price target on shares of PENN Entertainment in a report on Tuesday, October 8th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.53.

PENN Entertainment Stock Down 3.4 %

PENN stock opened at $19.16 on Tuesday. The company’s 50-day moving average price is $19.99 and its 200 day moving average price is $19.22. PENN Entertainment has a 52 week low of $13.50 and a 52 week high of $27.20. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The company has a market cap of $2.92 billion, a P/E ratio of -5.40 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating 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 firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the company earned $1.21 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. On average, research analysts expect that PENN Entertainment will post -1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in PENN. DekaBank Deutsche Girozentrale bought a new position in PENN Entertainment during the 3rd quarter valued at $45,000. GAMMA Investing LLC raised its position in shares of PENN Entertainment by 88.5% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after purchasing an additional 1,275 shares during the period. Quest Partners LLC acquired a new position in shares of PENN Entertainment in the 3rd quarter valued at $56,000. International Assets Investment Management LLC increased its stake in PENN Entertainment by 1,634.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after purchasing an additional 3,057 shares in the last quarter. Finally, Quarry LP lifted its stake in PENN Entertainment by 76.7% during the second quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after buying an additional 1,862 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.