PENN Entertainment, Inc. (NASDAQ:PENN) Receives $24.50 Average Price Target from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) have been assigned an average recommendation of "Hold" from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $24.50.

A number of research firms have recently issued reports on PENN. Needham & Company LLC reiterated a "buy" rating and issued a $26.00 price objective on shares of PENN Entertainment in a report on Wednesday. Morgan Stanley increased their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. Truist Financial upgraded shares of PENN Entertainment from a "hold" rating to a "buy" rating and set a $23.00 price objective for the company in a report on Tuesday, April 23rd. Canaccord Genuity Group reduced their target price on shares of PENN Entertainment from $32.00 to $28.00 and set a "buy" rating on the stock in a report on Monday, April 29th. Finally, Benchmark restated a "hold" rating on shares of PENN Entertainment in a research report on Friday, May 3rd.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN traded up $0.04 during trading on Thursday, reaching $15.94. The company had a trading volume of 3,689,942 shares, compared to its average volume of 5,921,146. The company has a fifty day moving average of $17.15 and a two-hundred day moving average of $20.95. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. The stock has a market capitalization of $2.43 billion, a P/E ratio of -2.13 and a beta of 2.06. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $29.38.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts' consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. Equities research analysts forecast that PENN Entertainment will post -1.34 earnings per share for the current year.

Insider Transactions at PENN Entertainment

In related news, Director David A. Handler purchased 20,000 shares of the firm's stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $15.37 per share, with a total value of $307,400.00. Following the completion of the purchase, the director now directly owns 243,450 shares in the company, valued at $3,741,826.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director David A. Handler acquired 20,000 shares of the firm's stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the acquisition, the director now owns 243,450 shares in the company, valued at $3,741,826.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Felicia Hendrix bought 16,157 shares of the company's stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $15.47 per share, for a total transaction of $249,948.79. Following the acquisition, the chief financial officer now owns 68,596 shares in the company, valued at approximately $1,061,180.12. The disclosure for this purchase can be found here. Corporate insiders own 2.19% of the company's stock.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of PENN Entertainment by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 14,789,817 shares of the company's stock worth $269,323,000 after buying an additional 59,897 shares during the last quarter. Earnest Partners LLC grew its stake in shares of PENN Entertainment by 4.0% in the first quarter. Earnest Partners LLC now owns 3,938,133 shares of the company's stock worth $71,713,000 after acquiring an additional 151,025 shares during the last quarter. Sei Investments Co. grew its stake in shares of PENN Entertainment by 13.1% in the first quarter. Sei Investments Co. now owns 2,372,277 shares of the company's stock worth $43,199,000 after acquiring an additional 274,074 shares during the last quarter. Invenomic Capital Management LP increased its holdings in shares of PENN Entertainment by 71.9% during the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company's stock valued at $34,313,000 after acquiring an additional 787,968 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of PENN Entertainment in the 4th quarter worth about $42,758,000. Institutional investors 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.