PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received an average rating of “Moderate Buy” from the sixteen brokerages that are covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $23.68.

Several equities analysts have weighed in on PENN shares. Craig Hallum reaffirmed a “buy” rating and set a $30.00 target price on shares of PENN Entertainment in a research note on Tuesday, October 8th. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Tuesday, October 8th. Stifel Nicolaus increased their target price on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Morgan Stanley lowered their price target on shares of PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Finally, Macquarie reiterated an “outperform” rating and set a $26.00 price objective on shares of PENN Entertainment in a report on Friday, August 9th.

PENN Entertainment Stock Up 0.3 %

Shares of NASDAQ:PENN opened at $18.52 on Friday. The firm has a 50 day simple moving average of $18.82 and a 200 day simple moving average of $18.06. PENN Entertainment has a 52 week low of $13.50 and a 52 week high of $27.20. 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 company has a market cap of $2.82 billion, a PE ratio of -2.49 and a beta of 2.10.

PENN Entertainment (NASDAQ:PENN) last released its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts expect that PENN Entertainment will post -1.32 earnings per share for the current year.

Insider Buying and Selling at PENN Entertainment

In other news, CEO Jay A. Snowden bought 54,200 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $18.44 per share, with a total value of $999,448.00. Following the transaction, the chief executive officer now directly owns 853,045 shares in the company, valued at approximately $15,730,149.80. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director David A. Handler acquired 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were acquired 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 owns 293,450 shares in the company, valued at approximately $5,138,309.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jay A. Snowden bought 54,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the transaction, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at $15,730,149.80. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 79,200 shares of company stock worth $1,450,548 over the last 90 days. Insiders own 2.19% of the company’s stock.

Institutional Trading of PENN Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of PENN Entertainment by 88.5% in the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock valued at $51,000 after buying an additional 1,275 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in PENN Entertainment in the 2nd quarter valued at approximately $5,841,000. Sanctuary Advisors LLC bought a new stake in shares of PENN Entertainment in the 2nd quarter worth approximately $1,236,000. Cetera Investment Advisers grew its holdings in shares of PENN Entertainment by 7.8% during the 2nd quarter. Cetera Investment Advisers now owns 136,694 shares of the company’s stock worth $2,646,000 after purchasing an additional 9,887 shares in the last quarter. Finally, Quarry LP increased its position in shares of PENN Entertainment by 76.7% during the second quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after purchasing an additional 1,862 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.