Several other equities research analysts also recently weighed in on PENN. Bank of America decreased their target price on PENN Entertainment from $40.00 to $35.00 in a research report on Wednesday, January 4th. Stifel Nicolaus downgraded PENN Entertainment from a buy rating to a hold rating and decreased their target price for the stock from $45.00 to $35.00 in a research report on Friday, January 6th. Morgan Stanley assumed coverage on PENN Entertainment in a report on Monday, November 21st. They issued an equal weight rating and a $36.00 price target for the company. JPMorgan Chase & Co. downgraded PENN Entertainment from an overweight rating to a neutral rating and increased their price target for the company from $38.00 to $39.00 in a report on Monday, November 28th. Finally, Credit Suisse Group reduced their price target on PENN Entertainment from $66.00 to $50.00 and set an outperform rating for the company in a report on Friday, November 4th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PENN Entertainment currently has a consensus rating of Moderate Buy and a consensus price target of $48.61.
PENN Entertainment Price Performance
PENN stock opened at $32.77 on Wednesday. The stock has a 50-day moving average price of $33.06 and a two-hundred day moving average price of $32.24. PENN Entertainment has a 12-month low of $25.49 and a 12-month high of $51.72. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.87. The company has a market cap of $5.08 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.37 and a beta of 2.18.
Insider Transactions at PENN Entertainment
In other news, CEO Jay A. Snowden sold 163,475 shares of the stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $30.12, for a total transaction of $4,923,867.00. Following the sale, the chief executive officer now directly owns 604,527 shares in the company, valued at approximately $18,208,353.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.
Institutional Trading of PENN Entertainment
Large investors have recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. acquired a new stake in PENN Entertainment in the 3rd quarter valued at approximately $27,000. Archer Investment Corp increased its position in PENN Entertainment by 1,694.9% in the 2nd quarter. Archer Investment Corp now owns 1,059 shares of the company’s stock valued at $32,000 after acquiring an additional 1,000 shares during the period. Stonebridge Capital Advisors LLC acquired a new stake in PENN Entertainment in the 1st quarter valued at approximately $50,000. Emerald Advisers LLC acquired a new stake in PENN Entertainment in the 3rd quarter valued at approximately $33,000. Finally, Wipfli Financial Advisors LLC acquired a new stake in PENN Entertainment in the 3rd quarter valued at approximately $39,000. 84.40% of the stock is currently owned by institutional investors and hedge funds.
About PENN Entertainment
PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates 44 properties in 20 states; online sports betting in 13 jurisdictions; and iCasino in five under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet.
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