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

PENN Entertainment, Inc. (NASDAQ:PENN) has been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $23.29.

A number of brokerages have commented on PENN. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Macquarie increased their price target on PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Barclays dropped their price objective on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Mizuho reduced their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company lifted their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th.

PENN Entertainment Trading Up 2.4 %

NASDAQ:PENN opened at $21.59 on Monday. The business’s 50-day moving average is $19.60 and its two-hundred day moving average is $18.84. The firm has a market capitalization of $3.30 billion, a PE ratio of -6.08 and a beta of 2.09. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $27.20. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company posted $1.21 EPS. PENN Entertainment’s revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts predict that PENN Entertainment will post -1.53 earnings per share for the current fiscal year.

Insider Buying and Selling at PENN Entertainment

In related news, Director David A. Handler purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of $17.51 per share, with a total value of $175,100.00. Following the acquisition, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. This trade represents a 3.53 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jay A. Snowden acquired 54,200 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the purchase, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. The trade was a 6.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 79,200 shares of company stock worth $1,450,548 over the last ninety days. Company insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PENN. Price T Rowe Associates Inc. MD boosted its position in shares of PENN Entertainment by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 88,958 shares of the company’s stock worth $1,620,000 after buying an additional 4,493 shares during the period. Cetera Investment Advisers boosted its position in PENN Entertainment by 186.2% during the 1st quarter. Cetera Investment Advisers now owns 126,807 shares of the company’s stock worth $2,309,000 after acquiring an additional 82,494 shares during the period. Cetera Advisors LLC grew its stake in shares of PENN Entertainment by 184.3% in the first quarter. Cetera Advisors LLC now owns 60,708 shares of the company’s stock worth $1,105,000 after purchasing an additional 39,356 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of PENN Entertainment by 233.6% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after purchasing an additional 1,009 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in PENN Entertainment by 192.5% in the second quarter. Harbor Capital Advisors Inc. now owns 303,089 shares of the company’s stock worth $5,866,000 after purchasing an additional 199,465 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

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.