PENN Entertainment (NASDAQ:PENN) Raised to Buy at StockNews.com

PENN Entertainment (NASDAQ:PENN – Get Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other equities research analysts also recently issued reports on PENN. JMP Securities restated a “market outperform” rating and set a $45.00 target price on shares of PENN Entertainment in a research report on Friday, February 3rd. JPMorgan Chase & Co. lowered shares of PENN Entertainment from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $38.00 to $39.00 in a report on Monday, November 28th. MKM Partners raised their price objective on shares of PENN Entertainment from $33.00 to $35.00 in a report on Friday, February 3rd. Credit Suisse Group decreased their target price on shares of PENN Entertainment from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Finally, Jefferies Financial Group downgraded shares of PENN Entertainment from a “buy” rating to a “hold” rating and reduced their price target for the company from $50.00 to $34.00 in a research report on Monday, January 9th. Six equities research 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, PENN Entertainment has an average rating of “Moderate Buy” and an average target price of $40.13.

PENN Entertainment Stock Down 2.7 %

Shares of PENN opened at $30.32 on Tuesday. The company has a market capitalization of $4.63 billion, a PE ratio of 23.50, a PEG ratio of 1.20 and a beta of 2.22. PENN Entertainment has a 12 month low of $25.49 and a 12 month high of $46.45. The stock’s 50-day moving average price is $31.94 and its two-hundred day moving average price is $31.99. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 1.87.

PENN Entertainment (NASDAQ:PENN – Get Rating) last issued its earnings results on Thursday, February 2nd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.20). PENN Entertainment had a net margin of 3.47% and a return on equity of 5.98%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts anticipate that PENN Entertainment will post 1.44 EPS for the current year.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, Director Saul Reibstein sold 39,457 shares of the firm’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $33.39, for a total value of $1,317,469.23. Following the sale, the director now directly owns 37,055 shares in the company, valued at $1,237,266.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Saul Reibstein sold 39,457 shares of PENN Entertainment stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $33.39, for a total transaction of $1,317,469.23. Following the transaction, the director now directly owns 37,055 shares of the company’s stock, valued at $1,237,266.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jay A. Snowden sold 163,475 shares of PENN Entertainment stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $30.12, for a total value of $4,923,867.00. Following the completion of the transaction, the chief executive officer now directly owns 604,527 shares in the company, valued at approximately $18,208,353.24. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of PENN Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Voya Investment Management LLC boosted its stake in PENN Entertainment by 88.0% in the fourth quarter. Voya Investment Management LLC now owns 182,703 shares of the company’s stock worth $5,426,000 after purchasing an additional 85,510 shares in the last quarter. Natixis bought a new stake in shares of PENN Entertainment in the fourth quarter worth about $1,108,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of PENN Entertainment by 10.2% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 58,354 shares of the company’s stock worth $1,733,000 after acquiring an additional 5,381 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of PENN Entertainment by 6.2% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 14,123 shares of the company’s stock worth $404,000 after buying an additional 820 shares in the last quarter. Finally, Josh Arnold Investment Consultant LLC bought a new position in shares of PENN Entertainment during the fourth quarter worth about $358,000. 84.40% of the stock is currently owned by institutional investors.

About PENN Entertainment

(Get Rating)

PENN Entertainment, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest, Interactive, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.