PENN Entertainment, Inc. (NASDAQ:PENN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, Marketbeat Ratings 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 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $22.89.

PENN has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Stifel Nicolaus raised their price objective on shares of PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. Mizuho lowered their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Finally, Barclays cut their price objective on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, October 17th.

PENN Entertainment Stock Performance

Shares of NASDAQ PENN opened at $19.23 on Thursday. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $27.20. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35. The company has a market cap of $2.93 billion, a PE ratio of -2.37 and a beta of 2.09. The stock has a 50 day simple moving average of $18.95 and a 200-day simple moving average of $18.30.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the business posted $0.48 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts forecast that PENN Entertainment will post -1.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director David A. Handler purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the acquisition, the director now directly owns 293,450 shares of the company’s stock, valued at $5,138,309.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PENN Entertainment news, Director David A. Handler bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average price of $17.51 per share, with a total value of $175,100.00. Following the completion of the transaction, the director now directly owns 293,450 shares in the company, valued at approximately $5,138,309.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay A. Snowden purchased 54,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the transaction, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at $15,730,149.80. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 79,200 shares of company stock worth $1,450,548 over the last ninety days. 2.19% of the stock is currently owned by company insiders.

Institutional Trading of PENN Entertainment

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in PENN Entertainment by 233.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after buying an additional 1,009 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in PENN Entertainment during the third quarter valued at $45,000. International Assets Investment Management LLC grew its stake 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 purchasing an additional 3,057 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in PENN Entertainment in the 2nd quarter worth about $83,000. Finally, Quarry LP raised its stake in shares of PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after purchasing 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.