PENN Entertainment (NASDAQ:PENN) Receives “Sell (D-)” Rating from Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of PENN Entertainment (NASDAQ:PENN) in a research note issued to investors on Tuesday morning,Weiss Ratings reports.

Several other research firms have also weighed in on PENN. Wall Street Zen lowered shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Barclays dropped their price objective on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. Morgan Stanley reiterated a “sell” rating on shares of PENN Entertainment in a research note on Friday, July 11th. Stifel Nicolaus upped their price objective on shares of PENN Entertainment from $17.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, July 11th. Finally, JMP Securities upped their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, August 8th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.80.

PENN Entertainment Stock Up 2.6%

PENN stock opened at $17.17 on Tuesday. PENN Entertainment has a 12 month low of $13.25 and a 12 month high of $23.08. The firm has a market cap of $2.51 billion, a PE ratio of -30.66 and a beta of 1.60. The firm has a 50 day simple moving average of $18.85 and a 200 day simple moving average of $17.24. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.79 and a quick ratio of 0.79.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.14. PENN Entertainment had a negative net margin of 1.12% and a negative return on equity of 4.36%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the business earned ($0.18) earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts forecast that PENN Entertainment will post -1.61 earnings per share for the current fiscal year.

Insider Activity at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $16.96 per share, for a total transaction of $339,200.00. Following the purchase, the director directly owned 342,941 shares in the company, valued at $5,816,279.36. This trade represents a 6.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Trek Financial LLC bought a new stake in shares of PENN Entertainment during the 1st quarter worth $246,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of PENN Entertainment during the 1st quarter worth $289,000. Principal Financial Group Inc. boosted its holdings in shares of PENN Entertainment by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 742,899 shares of the company’s stock worth $12,117,000 after buying an additional 17,752 shares during the period. KBC Group NV boosted its holdings in shares of PENN Entertainment by 42.2% during the 1st quarter. KBC Group NV now owns 7,824 shares of the company’s stock worth $128,000 after buying an additional 2,323 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of PENN Entertainment during the 1st quarter worth $344,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.