PENN Entertainment (NASDAQ:PENN) Given New $24.00 Price Target at Mizuho

PENN Entertainment (NASDAQ:PENN) had its target price lowered by research analysts at Mizuho from $25.00 to $24.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 28.89% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Barclays reduced their price objective on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a research note on Tuesday, October 8th. Raymond James downgraded shares of PENN Entertainment from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PENN Entertainment presently has an average rating of “Hold” and an average target price of $22.96.

PENN Entertainment Stock Down 1.4 %

PENN opened at $18.62 on Tuesday. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -2.50 and a beta of 2.10. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s fifty day moving average is $18.92 and its 200 day moving average is $18.10. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $27.20.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The business’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts forecast that PENN Entertainment will post -1.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David A. Handler acquired 10,000 shares of PENN Entertainment stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $17.51 per share, with a total value of $175,100.00. Following the transaction, the director now directly owns 293,450 shares of the company’s stock, valued at $5,138,309.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other PENN Entertainment news, Director David A. Handler bought 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, with a total value of $175,100.00. Following the completion of the purchase, the director now owns 293,450 shares in the company, valued at $5,138,309.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anuj Dhanda purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $18.40 per share, with a total value of $276,000.00. Following the completion of the purchase, the director now directly owns 31,523 shares in the company, valued at $580,023.20. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 79,200 shares of company stock valued at $1,450,548. Company insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PENN. GAMMA Investing LLC increased its position in shares of 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 during the period. International Assets Investment Management LLC increased its holdings in PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after purchasing an additional 3,057 shares during the period. J.Safra Asset Management Corp bought a new stake in PENN Entertainment during the 2nd quarter valued at $83,000. Quarry LP lifted its holdings in shares of PENN Entertainment by 76.7% in the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after buying an additional 1,862 shares during the period. Finally, Blue Trust Inc. grew its position in shares of PENN Entertainment by 18.3% during the 2nd quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock worth $183,000 after buying an additional 1,555 shares in the last quarter. 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.