JMP Securities Reiterates “Market Perform” Rating for PENN Entertainment (NASDAQ:PENN)

JMP Securities reaffirmed their market perform rating on shares of PENN Entertainment (NASDAQ:PENN) in a research note issued to investors on Thursday morning,Benzinga reports.

PENN has been the subject of a number of other reports. Wells Fargo & Company upped their price objective on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Jefferies Financial Group increased their price target on PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. Craig Hallum restated a “buy” rating and set a $30.00 target price on shares of PENN Entertainment in a report on Tuesday, October 8th. Barclays reduced their price objective on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised PENN Entertainment from a “neutral” rating to an “overweight” rating and upped their target price for the company from $19.00 to $27.00 in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, PENN Entertainment has a consensus rating of “Hold” and an average target price of $23.44.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $20.02 on Thursday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The firm’s 50-day simple moving average is $19.94 and its 200-day simple moving average is $19.36. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $24.57. The firm has a market cap of $3.06 billion, a PE ratio of -5.64, a price-to-earnings-growth ratio of 1.27 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 earnings per share. Equities analysts forecast that PENN Entertainment will post -1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. DekaBank Deutsche Girozentrale acquired a new position in shares of PENN Entertainment during the 3rd quarter worth $45,000. GAMMA Investing LLC increased its position in PENN Entertainment by 88.5% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after buying an additional 1,275 shares during the last quarter. Quest Partners LLC bought a new position in PENN Entertainment during the third quarter valued at about $56,000. International Assets Investment Management LLC lifted its position in shares of 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 worth $61,000 after buying an additional 3,057 shares during the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of PENN Entertainment during the 4th quarter worth about $63,000. Institutional investors own 91.69% of the company’s stock.

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.