PENN Entertainment, Inc. (NASDAQ:PENN) Given Consensus Rating of “Hold” by Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been assigned an average recommendation of “Hold” from the seventeen research firms that are covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $23.77.

PENN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Morgan Stanley lowered their price target on shares of PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Craig Hallum raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and upped their price target for the stock from $20.00 to $30.00 in a research report on Friday, June 21st. Finally, Truist Financial boosted their price objective on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, June 14th.

Insider Buying and Selling at PENN Entertainment

In related news, CEO Jay A. Snowden purchased 54,200 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the purchase, the chief executive officer now owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PENN Entertainment news, Director David A. Handler acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the purchase, the director now directly owns 293,450 shares of the company’s stock, valued at $5,138,309.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jay A. Snowden acquired 54,200 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the purchase, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at $15,730,149.80. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 79,200 shares of company stock worth $1,450,548. 2.19% of the stock is owned by corporate insiders.

Institutional Trading of PENN Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of PENN Entertainment in the second quarter worth $5,841,000. Sanctuary Advisors LLC acquired a new stake in shares of PENN Entertainment in the second quarter worth $1,236,000. Cetera Investment Advisers increased its stake in shares of PENN Entertainment by 7.8% in the second quarter. Cetera Investment Advisers now owns 136,694 shares of the company’s stock worth $2,646,000 after acquiring an additional 9,887 shares during the period. Quarry LP boosted its holdings in PENN Entertainment by 76.7% during the second quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after buying an additional 1,862 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in PENN Entertainment by 4,624.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock worth $28,183,000 after buying an additional 1,425,274 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Price Performance

PENN Entertainment stock opened at $18.81 on Wednesday. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -2.52 and a beta of 2.10. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $27.20. The firm has a 50-day moving average of $18.89 and a two-hundred day moving average of $17.99.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.09. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The firm 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 company earned $0.48 EPS. The company’s revenue was down .7% compared to the same quarter last year. On average, research analysts forecast that PENN Entertainment will post -1.41 earnings per share for the current year.

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.