Brokerages Set PENN Entertainment, Inc. (NASDAQ:PENN) Price Target at $22.89

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $22.96.

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company raised 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 report on Thursday, October 17th. Barclays cut 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 report on Thursday, October 17th. Craig Hallum reiterated a “buy” rating and issued a $30.00 price objective on shares of PENN Entertainment in a research report on Tuesday, October 8th. Morgan Stanley cut their price objective on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. Finally, JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th.

PENN Entertainment Trading Down 0.1 %

PENN Entertainment stock opened at $20.46 on Thursday. The firm’s 50-day moving average is $19.02 and its 200-day moving average is $18.35. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $27.20. The company has a market cap of $3.12 billion, a P/E ratio of -5.76 and a beta of 2.09.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.38%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm posted $1.21 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts expect that PENN Entertainment will post -1.41 earnings per share for the current year.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden acquired 54,200 shares of the stock in a transaction dated 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 purchase, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jay A. Snowden bought 54,200 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $18.44 per share, with a total value of $999,448.00. Following the completion of the transaction, the chief executive officer now directly owns 853,045 shares in the company, valued at approximately $15,730,149.80. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anuj Dhanda bought 15,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was purchased 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. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 79,200 shares of company stock valued at $1,450,548 in the last quarter. Insiders own 2.19% of the company’s stock.

Institutional Trading of PENN Entertainment

Several institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. acquired a new stake in shares of PENN Entertainment during the third quarter worth approximately $645,000. Jennison Associates LLC boosted its holdings in shares of PENN Entertainment by 103.9% during the third quarter. Jennison Associates LLC now owns 768,503 shares of the company’s stock worth $14,494,000 after purchasing an additional 391,640 shares during the period. Pathstone Holdings LLC boosted its holdings in shares of PENN Entertainment by 10.2% during the third quarter. Pathstone Holdings LLC now owns 394,244 shares of the company’s stock worth $7,435,000 after purchasing an additional 36,347 shares during the period. Quest Partners LLC acquired a new stake in shares of PENN Entertainment during the third quarter worth approximately $56,000. Finally, Natixis Advisors LLC boosted its holdings in shares of PENN Entertainment by 25.3% during the third quarter. Natixis Advisors LLC now owns 303,655 shares of the company’s stock worth $5,727,000 after purchasing an additional 61,285 shares during the period. 91.69% of the stock is currently 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.