PENN Entertainment (NASDAQ:PENN) Price Target Lowered to $26.00 at Susquehanna

PENN Entertainment (NASDAQ:PENNFree Report) had its target price lowered by Susquehanna from $27.00 to $26.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a positive rating on the stock.

A number of other research firms have also recently commented on PENN. JMP Securities reissued a market perform rating on shares of PENN Entertainment in a research note on Tuesday, April 23rd. Needham & Company LLC reaffirmed a buy rating and set a $26.00 price target on shares of PENN Entertainment in a report on Wednesday, May 15th. Truist Financial raised PENN Entertainment from a hold rating to a buy rating and set a $23.00 price target on the stock in a report on Tuesday, April 23rd. Craig Hallum lowered their price target on PENN Entertainment from $25.00 to $20.00 and set a hold rating on the stock in a report on Friday, May 3rd. Finally, Macquarie lowered their price target on PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $24.30.

Read Our Latest Research Report on PENN Entertainment

PENN Entertainment Price Performance

NASDAQ PENN opened at $17.50 on Friday. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $29.38. The stock’s fifty day moving average price is $16.61 and its 200-day moving average price is $20.43. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.04 and a quick ratio of 1.04.

PENN Entertainment (NASDAQ:PENNGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. On average, sell-side analysts expect that PENN Entertainment will post -1.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David A. Handler purchased 20,000 shares of PENN Entertainment stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the transaction, the director now directly owns 243,450 shares in the company, valued at approximately $3,741,826.50. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other PENN Entertainment news, CFO Felicia Hendrix bought 16,157 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average price of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the transaction, the chief financial officer now owns 68,596 shares of the company’s stock, valued at approximately $1,061,180.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Handler bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $15.37 per share, with a total value of $307,400.00. Following the transaction, the director now directly owns 243,450 shares of the company’s stock, valued at approximately $3,741,826.50. The disclosure for this purchase can be found here. Insiders purchased a total of 76,157 shares of company stock worth $1,154,949 over the last quarter. 2.19% of the stock is currently owned by corporate insiders.

Institutional Trading of PENN Entertainment

Institutional investors have recently made changes to their positions in the business. Kettle Hill Capital Management LLC purchased a new stake in shares of PENN Entertainment during the third quarter worth about $19,792,000. Contrarius Investment Management Ltd grew its position in shares of PENN Entertainment by 139.0% during the fourth quarter. Contrarius Investment Management Ltd now owns 892,394 shares of the company’s stock worth $23,220,000 after purchasing an additional 518,995 shares in the last quarter. Fred Alger Management LLC purchased a new stake in shares of PENN Entertainment during the third quarter worth about $1,750,000. Natixis Advisors L.P. grew its position in shares of PENN Entertainment by 59.2% during the fourth quarter. Natixis Advisors L.P. now owns 180,766 shares of the company’s stock worth $4,703,000 after purchasing an additional 67,218 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of PENN Entertainment by 13.9% during the third quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock worth $31,510,000 after purchasing an additional 167,445 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

About PENN Entertainment

(Get Free Report)

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.

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Analyst Recommendations for PENN Entertainment (NASDAQ:PENN)

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