PENN Entertainment (NASDAQ:PENN) Cut to Sell at StockNews.com

StockNews.com lowered shares of PENN Entertainment (NASDAQ:PENN) from a hold rating to a sell rating in a research report released on Tuesday.

PENN has been the topic of several other research reports. Wells Fargo & Company boosted their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Needham & Company LLC reissued a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Friday, November 8th. Susquehanna decreased their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a research note on Monday, November 4th. Barclays cut their target price on shares of 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, Morgan Stanley decreased their price target on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.44.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $19.00 on Tuesday. The stock has a market cap of $2.90 billion, a P/E ratio of -5.35 and a beta of 2.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $25.53. The company’s 50-day simple moving average is $19.98 and its 200 day simple moving average is $19.33.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. As a group, research analysts forecast that PENN Entertainment will post -1.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

Several institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new position in PENN Entertainment in the third quarter valued at approximately $45,000. GAMMA Investing LLC lifted its stake in shares of PENN Entertainment by 88.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock valued at $51,000 after purchasing an additional 1,275 shares during the period. Quest Partners LLC bought a new position in shares of PENN Entertainment in the 3rd quarter worth $56,000. International Assets Investment Management LLC grew its stake in shares of PENN Entertainment by 1,634.8% during the third 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. Finally, Modus Advisors LLC bought a new stake in PENN Entertainment in the fourth quarter valued at about $63,000. Institutional investors and hedge funds 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.