PENN Entertainment (NASDAQ:PENN) Receives Market Perform Rating from JMP Securities

JMP Securities reissued their market perform rating on shares of PENN Entertainment (NASDAQ:PENN) in a research report sent to investors on Tuesday, Benzinga reports.

PENN has been the topic of a number of other research reports. Truist Financial raised shares of PENN Entertainment from a hold rating to a buy rating and set a $23.00 target price on the stock in a research report on Tuesday. Needham & Company LLC reduced their price target on shares of PENN Entertainment from $33.00 to $32.00 and set a buy rating on the stock in a research report on Friday, February 16th. Barclays reduced their price target on shares of PENN Entertainment from $27.00 to $26.00 and set an overweight rating on the stock in a research report on Friday, April 19th. Morgan Stanley increased their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Finally, Macquarie reduced their price target on shares of PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $29.80.

PENN Entertainment Trading Up 3.0 %

NASDAQ PENN opened at $17.43 on Tuesday. The firm’s 50-day moving average is $17.75 and its two-hundred day moving average is $21.42. PENN Entertainment has a 12 month low of $15.88 and a 12 month high of $31.63. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $2.66 billion, a P/E ratio of -4.79 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. On average, sell-side analysts anticipate that PENN Entertainment will post -0.86 earnings per share for the current year.

Institutional Trading of PENN Entertainment

A number of large investors have recently made changes to their positions in PENN. Kettle Hill Capital Management LLC purchased a new position in PENN Entertainment in the third quarter valued at approximately $19,792,000. Source Financial Advisors LLC increased its stake in PENN Entertainment by 1,061.1% in the third quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock valued at $7,404,000 after purchasing an additional 294,845 shares during the last quarter. Fred Alger Management LLC purchased a new position in PENN Entertainment in the third quarter valued at approximately $1,750,000. Sei Investments Co. increased its stake in PENN Entertainment by 13.9% in the third quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock valued at $31,510,000 after purchasing an additional 167,445 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in PENN Entertainment by 20.0% in the fourth quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock valued at $140,000 after purchasing an additional 896 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.