PENN Entertainment (NASDAQ:PENN) Sets New 12-Month Low at $25.74

PENN Entertainment, Inc. (NASDAQ:PENNGet Rating) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $25.74 and last traded at $25.81, with a volume of 23460 shares trading hands. The stock had previously closed at $26.75.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays raised their price objective on shares of PENN Entertainment from $37.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. JMP Securities initiated coverage on PENN Entertainment in a research report on Tuesday, June 28th. They set an “outperform” rating and a $52.00 price target on the stock. Truist Financial decreased their price objective on PENN Entertainment from $60.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Credit Suisse Group dropped their target price on shares of PENN Entertainment to $66.00 in a report on Tuesday, August 9th. Finally, Wells Fargo & Company decreased their price target on shares of PENN Entertainment from $48.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

PENN Entertainment Stock Performance

The firm’s 50-day moving average price is $33.22 and its 200-day moving average price is $34.57. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $4.11 billion, a P/E ratio of 21.20, a PEG ratio of 1.65 and a beta of 2.24.

PENN Entertainment (NASDAQ:PENNGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.35). PENN Entertainment had a net margin of 3.33% and a return on equity of 5.65%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the business earned $1.17 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts expect that PENN Entertainment, Inc. will post 1.3 earnings per share for the current fiscal year.

Insider Activity at PENN Entertainment

In other news, Director Saul Reibstein sold 5,086 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $38.03, for a total value of $193,420.58. Following the sale, the director now owns 34,663 shares of the company’s stock, valued at $1,318,233.89. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by insiders.

Institutional Trading of PENN Entertainment

Large investors have recently made changes to their positions in the stock. Prudential Financial Inc. lifted its position in shares of PENN Entertainment by 152.7% in the 2nd quarter. Prudential Financial Inc. now owns 360,550 shares of the company’s stock worth $11,190,000 after purchasing an additional 217,896 shares during the period. Penn Capital Management Company LLC bought a new stake in PENN Entertainment during the 2nd quarter valued at $7,972,000. CastleKnight Management LP increased its holdings in shares of PENN Entertainment by 14.8% in the 2nd quarter. CastleKnight Management LP now owns 30,300 shares of the company’s stock valued at $922,000 after acquiring an additional 3,900 shares during the period. Davidson Kempner Capital Management LP raised its position in shares of PENN Entertainment by 99.3% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 401,350 shares of the company’s stock worth $12,205,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Occudo Quantitative Strategies LP lifted its stake in shares of PENN Entertainment by 260.7% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 45,163 shares of the company’s stock worth $1,374,000 after purchasing an additional 32,641 shares during the last quarter. 82.62% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Company Profile

(Get Rating)

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates 44 properties in 20 states; online sports betting in 13 jurisdictions; and iCasino in five under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet.

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