PENN Entertainment (NASDAQ:PENN) Shares Up 4.4% – Still a Buy?

PENN Entertainment, Inc. (NASDAQ:PENN)’s stock price shot up 4.4% on Tuesday . The company traded as high as $19.62 and last traded at $19.55. 2,178,744 shares changed hands during trading, a decline of 55% from the average session volume of 4,805,648 shares. The stock had previously closed at $18.73.

Analyst Ratings Changes

PENN has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 target price on shares of PENN Entertainment in a research note on Friday, November 8th. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th. Mizuho lowered their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Truist Financial decreased their target price on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their price target for the company from $19.00 to $27.00 in a report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.53.

PENN Entertainment Stock Up 1.2 %

The company has a fifty day moving average price of $20.01 and a 200-day moving average price of $19.32. 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 has a market capitalization of $3.06 billion, a PE ratio of -5.65 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The firm had revenue of $1.64 billion for 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 business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 EPS. As a group, analysts expect that PENN Entertainment, Inc. will post -1.55 earnings per share for the current year.

Institutional Trading of PENN Entertainment

Several institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp raised its holdings in shares of PENN Entertainment by 4.2% in the third quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock worth $235,000 after buying an additional 497 shares during the period. XTX Topco Ltd lifted its position in shares of PENN Entertainment by 2.8% during the third quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock worth $441,000 after purchasing an additional 641 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of PENN Entertainment by 4.0% during the third quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company’s stock valued at $328,000 after purchasing an additional 665 shares during the period. United Services Automobile Association grew its holdings in shares of PENN Entertainment by 6.3% in the second quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock worth $232,000 after purchasing an additional 712 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in PENN Entertainment by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock worth $743,000 after buying an additional 944 shares during the period. 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.