Susquehanna Issues Pessimistic Forecast for PENN Entertainment (NASDAQ:PENN) Stock Price

PENN Entertainment (NASDAQ:PENN) had its price objective dropped by investment analysts at Susquehanna from $26.00 to $25.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price objective indicates a potential upside of 36.31% from the company’s current price.

A number of other research analysts have also issued reports on the company. Stifel Nicolaus boosted their price objective on PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Truist Financial reduced their price target on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. Morgan Stanley reduced their target price on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 22nd. Finally, Barclays lowered their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.89.

PENN Entertainment Trading Down 3.8 %

Shares of NASDAQ PENN opened at $18.34 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.35. The stock’s 50 day moving average price is $18.94 and its two-hundred day moving average price is $18.29. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $27.20. The stock has a market capitalization of $2.80 billion, a P/E ratio of -2.26 and a beta of 2.09.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $0.48 EPS. The business’s revenue was down .7% compared to the same quarter last year. On average, analysts anticipate that PENN Entertainment will post -1.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David A. Handler purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost of $17.51 per share, with a total value of $175,100.00. Following the completion of the purchase, the director now owns 293,450 shares of the company’s stock, valued at $5,138,309.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director David A. Handler bought 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average price of $17.51 per share, with a total value of $175,100.00. Following the completion of the transaction, the director now directly owns 293,450 shares of the company’s stock, valued at $5,138,309.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anuj Dhanda purchased 15,000 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the transaction, the director now owns 31,523 shares of the company’s stock, valued at $580,023.20. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 79,200 shares of company stock worth $1,450,548 in the last quarter. 2.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PENN. Entropy Technologies LP acquired a new position in PENN Entertainment during the third quarter worth $586,000. Versor Investments LP acquired a new position in shares of PENN Entertainment during the third quarter valued at $571,000. Wolverine Asset Management LLC boosted its stake in shares of PENN Entertainment by 112.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 57,745 shares of the company’s stock valued at $1,089,000 after purchasing an additional 30,617 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in PENN Entertainment during the 3rd quarter worth $1,921,000. Finally, Graypoint LLC increased its stake in shares of PENN Entertainment by 8.9% in the 3rd quarter. Graypoint LLC now owns 20,382 shares of the company’s stock valued at $384,000 after acquiring an additional 1,667 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Company Profile

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.