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

Shares of PENN Entertainment, Inc. (NASDAQ:PENNGet Free Report) have been given a consensus rating of “Moderate Buy” by the sixteen research firms that are covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $24.30.

Several research firms recently commented on PENN. Morgan Stanley upped their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Craig Hallum dropped their price target on PENN Entertainment from $25.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Macquarie decreased their price objective on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Barclays dropped their target price on PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, Bank of America lowered shares of PENN Entertainment from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $28.00 to $17.50 in a research report on Monday, May 13th.

Get Our Latest Report on PENN

Insider Transactions at PENN Entertainment

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

Institutional Investors Weigh In On PENN Entertainment

Large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of PENN Entertainment during the fourth quarter worth about $42,758,000. ING Groep NV bought a new stake in shares of PENN Entertainment in the 4th quarter worth about $32,556,000. Kettle Hill Capital Management LLC acquired a new stake in shares of PENN Entertainment in the 3rd quarter valued at about $19,792,000. Invenomic Capital Management LP lifted its position in shares of PENN Entertainment by 71.9% during the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock worth $34,313,000 after purchasing an additional 787,968 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in PENN Entertainment by 52.8% in the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after buying an additional 725,221 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Stock Down 0.7 %

PENN stock opened at $17.16 on Monday. The company’s 50 day moving average is $16.51 and its two-hundred day moving average is $20.08. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $29.38. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. The stock has a market cap of $2.62 billion, a P/E ratio of -2.30 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENNGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Research analysts expect that PENN Entertainment will post -1.35 earnings per share for the current fiscal year.

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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