PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Rating of "Hold" by Brokerages

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) has earned a consensus rating of "Hold" from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $23.23.

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Needham & Company LLC reduced their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Wall Street Zen upgraded PENN Entertainment from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Morgan Stanley cut their target price on PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus decreased their price target on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating on the stock in a research note on Tuesday, March 18th.

Insider Buying and Selling at PENN Entertainment

In related news, CEO Jay A. Snowden bought 34,000 shares of PENN Entertainment stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average price of $14.70 per share, with a total value of $499,800.00. Following the purchase, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David A. Handler purchased 10,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $14.83 per share, with a total value of $148,300.00. Following the transaction, the director now directly owns 322,941 shares of the company's stock, valued at $4,789,215.03. This represents a 3.20% increase in their position. The disclosure for this purchase can be found here. 2.67% of the stock is owned by corporate insiders.

Institutional Trading of PENN Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in PENN. Proficio Capital Partners LLC acquired a new position in PENN Entertainment in the 4th quarter valued at about $596,000. Raymond James Financial Inc. purchased a new stake in shares of PENN Entertainment during the fourth quarter worth about $17,804,000. ING Groep NV acquired a new position in shares of PENN Entertainment in the fourth quarter valued at approximately $9,910,000. IFP Advisors Inc raised its position in shares of PENN Entertainment by 201.5% in the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock valued at $31,000 after buying an additional 1,052 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of PENN Entertainment by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,337,162 shares of the company's stock valued at $26,503,000 after buying an additional 55,138 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Stock Up 4.9%

PENN opened at $17.28 on Friday. PENN Entertainment has a 52 week low of $13.25 and a 52 week high of $23.08. The business has a 50 day moving average price of $15.48 and a two-hundred day moving average price of $17.85. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.35. The company has a market cap of $2.61 billion, a PE ratio of -27.87 and a beta of 1.56.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.04. PENN Entertainment had a negative return on equity of 5.75% and a negative net margin of 1.28%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company posted ($0.76) earnings per share. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts anticipate that PENN Entertainment will post -1.61 EPS for the current 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.

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