PENN Entertainment (NASDAQ:PENN) Given Hold Rating at Benchmark

Benchmark restated their hold rating on shares of PENN Entertainment (NASDAQ:PENN) in a research note released on Monday,Benzinga reports.

Several other equities analysts have also issued reports on the stock. StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Wells Fargo & Company boosted their target price on PENN Entertainment from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Needham & Company LLC lowered their price target on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, February 28th. Stifel Nicolaus dropped their price target on PENN Entertainment from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Finally, Truist Financial decreased their price objective on PENN Entertainment from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.91.

PENN Entertainment Price Performance

PENN opened at $15.45 on Monday. The company has a fifty day moving average price of $15.72 and a two-hundred day moving average price of $18.60. The firm has a market capitalization of $2.33 billion, a PE ratio of -4.35, a P/E/G ratio of 1.55 and a beta of 1.81. PENN Entertainment has a 52 week low of $13.25 and a 52 week high of $23.08. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm earned ($0.76) earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, analysts anticipate that PENN Entertainment will post -1.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PENN. Invesco Ltd. raised its holdings in shares of PENN Entertainment by 54.6% in the 1st quarter. Invesco Ltd. now owns 6,002,749 shares of the company’s stock valued at $97,905,000 after purchasing an additional 2,120,740 shares during the period. DME Capital Management LP increased its position in PENN Entertainment by 2.3% during the fourth quarter. DME Capital Management LP now owns 5,748,440 shares of the company’s stock worth $113,934,000 after buying an additional 127,670 shares during the last quarter. Geode Capital Management LLC raised its stake in PENN Entertainment by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 2,500,342 shares of the company’s stock valued at $49,572,000 after buying an additional 152,791 shares during the period. Invenomic Capital Management LP raised its stake in PENN Entertainment by 87.8% in the first quarter. Invenomic Capital Management LP now owns 1,859,112 shares of the company’s stock valued at $30,322,000 after buying an additional 869,347 shares during the period. Finally, Kettle Hill Capital Management LLC lifted its position in shares of PENN Entertainment by 43.1% in the fourth quarter. Kettle Hill Capital Management LLC now owns 1,801,787 shares of the company’s stock valued at $35,711,000 after buying an additional 542,585 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

About PENN Entertainment

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.