PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

PENN Entertainment, Inc. (NASDAQ:PENN) has been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $25.03.

PENN has been the topic of a number of analyst reports. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research report on Friday, May 3rd. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Raymond James cut shares of PENN Entertainment from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Canaccord Genuity Group decreased their target price on shares of PENN Entertainment from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, Mizuho lifted their target price on shares of PENN Entertainment from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $17.87 on Tuesday. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $29.38. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $2.72 billion, a P/E ratio of -2.40 and a beta of 2.11. The company has a fifty day moving average of $18.47 and a 200-day moving average of $18.46.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. As a group, equities research analysts predict that PENN Entertainment will post -1.35 EPS for the current fiscal year.

Insider Activity at PENN Entertainment

In related news, Director David A. Handler purchased 20,000 shares of PENN Entertainment stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the transaction, the director now directly owns 243,450 shares of the company’s stock, valued at $3,741,826.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other PENN Entertainment news, Director David A. Handler acquired 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average price of $14.94 per share, with a total value of $597,600.00. Following the completion of the purchase, the director now directly owns 283,450 shares of the company’s stock, valued at approximately $4,234,743. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Handler acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the purchase, the director now directly owns 243,450 shares of the company’s stock, valued at $3,741,826.50. The disclosure for this purchase can be found here. Insiders have purchased 76,157 shares of company stock worth $1,154,949 over the last 90 days. 2.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On PENN Entertainment

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in PENN Entertainment by 233.6% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after acquiring an additional 1,009 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in PENN Entertainment during the fourth quarter worth about $32,000. Lindbrook Capital LLC lifted its stake in shares of PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after buying an additional 553 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of PENN Entertainment in the fourth quarter worth approximately $40,000. Finally, Rakuten Securities Inc. bought a new position in shares of PENN Entertainment in the fourth quarter worth approximately $78,000. Institutional investors own 91.69% of the company’s stock.

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.