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PENN Entertainment's (PENN) Positive Rating Reaffirmed at Susquehanna

PENN Entertainment logo with Consumer Discretionary background

PENN Entertainment (NASDAQ:PENN - Get Free Report)'s stock had its "positive" rating reissued by research analysts at Susquehanna in a research note issued to investors on Friday, Benzinga reports. They currently have a $26.00 price target on the stock. Susquehanna's price objective indicates a potential upside of 31.11% from the company's previous close.

PENN has been the subject of a number of other research reports. StockNews.com downgraded shares of PENN Entertainment from a "hold" rating to a "sell" rating in a research report on Wednesday, March 6th. Benchmark reissued a "hold" rating on shares of PENN Entertainment in a research report on Friday, May 3rd. Truist Financial lifted their price objective on shares of PENN Entertainment from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, June 14th. Wells Fargo & Company decreased their price objective on shares of PENN Entertainment from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Friday, May 3rd. Finally, Canaccord Genuity Group decreased their price objective on shares of PENN Entertainment from $32.00 to $28.00 and set a "buy" rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $25.10.


Read Our Latest Stock Analysis on PENN

PENN Entertainment Stock Down 1.0 %

PENN Entertainment stock traded down $0.21 during mid-day trading on Friday, reaching $19.83. The company's stock had a trading volume of 35,388,066 shares, compared to its average volume of 6,414,218. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -2.66 and a beta of 2.06. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $29.38. The business's 50 day simple moving average is $16.71 and its 200 day simple moving average is $19.66. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, missing analysts' consensus estimates of ($0.59) by ($0.20). The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. As a group, research analysts anticipate that PENN Entertainment will post -1.35 earnings per share for the current year.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler acquired 40,000 shares of the company's stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $14.94 per share, for a total transaction of $597,600.00. Following the purchase, the director now directly owns 283,450 shares of the company's stock, valued at $4,234,743. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other PENN Entertainment news, Director David A. Handler acquired 40,000 shares of the company's stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $14.94 per share, for a total transaction of $597,600.00. Following the purchase, the director now directly owns 283,450 shares of the company's stock, valued at $4,234,743. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Felicia Hendrix acquired 16,157 shares of the company's stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $15.47 per share, with a total value of $249,948.79. Following the purchase, the chief financial officer now directly owns 68,596 shares in the company, valued at $1,061,180.12. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 76,157 shares of company stock worth $1,154,949. 2.19% of the stock is owned by insiders.

Institutional Trading of PENN Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Advisors LLC raised its position in shares of PENN Entertainment by 184.3% in the 1st quarter. Cetera Advisors LLC now owns 60,708 shares of the company's stock valued at $1,105,000 after buying an additional 39,356 shares in the last quarter. Cetera Investment Advisers raised its position in shares of PENN Entertainment by 186.2% in the 1st quarter. Cetera Investment Advisers now owns 126,807 shares of the company's stock valued at $2,309,000 after buying an additional 82,494 shares in the last quarter. Sona Asset Management US LLC acquired a new position in shares of PENN Entertainment in the 1st quarter valued at approximately $1,821,000. Virtu Financial LLC acquired a new position in shares of PENN Entertainment in the 1st quarter valued at approximately $1,098,000. Finally, Invenomic Capital Management LP raised its position in shares of PENN Entertainment by 71.9% in the 1st quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company's stock valued at $34,313,000 after buying an additional 787,968 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

About PENN Entertainment

(Get Free Report)

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.

See Also

Analyst Recommendations for PENN Entertainment (NASDAQ:PENN)

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