PENN Entertainment, Inc. (NASDAQ:PENN) Given Consensus Recommendation of "Hold" by Brokerages

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) has been assigned an average rating of "Hold" from the eighteen research firms that are presently covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $23.03.

A number of brokerages have commented on PENN. Stifel Nicolaus decreased their target price on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. began coverage on PENN Entertainment in a report on Monday. They set an "overweight" rating and a $24.00 price target on the stock. Wall Street Zen raised PENN Entertainment from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Mizuho cut their price target on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Monday, May 12th. Finally, Morgan Stanley cut their price target on PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th.

Insiders Place Their Bets

In related news, Director David A. Handler purchased 10,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average cost of $14.83 per share, for a total transaction of $148,300.00. Following the acquisition, the director now directly owns 322,941 shares in the company, valued at approximately $4,789,215.03. The trade was a 3.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jay A. Snowden purchased 34,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $14.70 per share, for a total transaction of $499,800.00. Following the completion of the acquisition, the chief executive officer now owns 1,082,625 shares in the company, valued at $15,914,587.50. This represents a 3.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.67% of the company's stock.

Institutional Investors Weigh In On PENN Entertainment

Institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in shares of PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock valued at $31,000 after purchasing an additional 1,052 shares during the last quarter. Quarry LP acquired a new stake in shares of PENN Entertainment in the 1st quarter valued at $30,000. GAMMA Investing LLC lifted its stake in shares of PENN Entertainment by 38.7% in the 1st quarter. GAMMA Investing LLC now owns 2,636 shares of the company's stock valued at $43,000 after purchasing an additional 736 shares during the last quarter. Byrne Asset Management LLC lifted its stake in shares of PENN Entertainment by 201.1% in the 1st quarter. Byrne Asset Management LLC now owns 2,710 shares of the company's stock valued at $44,000 after purchasing an additional 1,810 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of PENN Entertainment in the 1st quarter valued at $46,000. Institutional investors and hedge funds own 91.69% of the company's stock.

PENN Entertainment Stock Up 0.4%

Shares of PENN Entertainment stock traded up $0.06 during trading hours on Friday, hitting $17.11. 5,216,930 shares of the company's stock traded hands, compared to its average volume of 3,850,557. The company has a market cap of $2.58 billion, a PE ratio of -27.60 and a beta of 1.57. PENN Entertainment has a twelve month low of $13.25 and a twelve month high of $23.08. The stock has a 50 day simple moving average of $15.54 and a 200-day simple moving average of $17.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.35.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.71 billion. PENN Entertainment had a negative return on equity of 5.75% and a negative net margin of 1.28%. PENN Entertainment's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.76) earnings per share. Equities research analysts anticipate that PENN Entertainment will post -1.61 earnings per share for the current fiscal year.

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.