PENN Entertainment (NASDAQ:PENN) Rating Lowered to Sell at StockNews.com

PENN Entertainment (NASDAQ:PENN) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

PENN has been the subject of several other research reports. Craig Hallum reiterated a “buy” rating and set a $30.00 target price on shares of PENN Entertainment in a research note on Tuesday, October 8th. Bank of America initiated coverage on shares of PENN Entertainment in a research report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price objective for the company. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a report on Thursday. Morgan Stanley lowered their target price on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their price target on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.44.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $20.46 on Friday. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -5.76, a PEG ratio of 1.27 and a beta of 2.08. PENN Entertainment has a one year low of $13.50 and a one year high of $24.57. The company’s 50-day simple moving average is $19.95 and its 200-day simple moving average is $19.35. 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 (NASDAQ:PENN) last released its earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the business posted $1.21 EPS. PENN Entertainment’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts anticipate that PENN Entertainment will post -1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale acquired a new stake in shares of PENN Entertainment in the 3rd quarter worth approximately $45,000. GAMMA Investing LLC raised its holdings in 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 in the last quarter. Quest Partners LLC acquired a new stake in PENN Entertainment in the third quarter worth approximately $56,000. International Assets Investment Management LLC boosted its stake in PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after purchasing an additional 3,057 shares in the last quarter. Finally, Modus Advisors LLC bought a new position in PENN Entertainment during the 4th quarter valued at $63,000. Institutional investors 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.