PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Rating of "Moderate Buy" by Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nineteen brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $23.18.

Several equities analysts have recently issued reports on the company. Citizens Jmp raised PENN Entertainment from a "market perform" rating to an "outperform" rating and set a $24.00 target price for the company in a report on Thursday, June 26th. Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a report on Monday, May 19th. Morgan Stanley reaffirmed a "sell" rating on shares of PENN Entertainment in a report on Friday. Mizuho reduced their target price on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Monday, May 12th. Finally, Citigroup raised PENN Entertainment to an "outperform" rating in a report on Thursday, June 26th.

Insider Buying and Selling at PENN Entertainment

In related news, CEO Jay A. Snowden bought 34,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $14.70 per share, for a total transaction of $499,800.00. Following the completion of the transaction, the chief executive officer directly owned 1,082,625 shares in the company, valued at approximately $15,914,587.50. The trade was a 3.24% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David A. Handler bought 10,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were bought at an average price of $14.83 per share, for a total transaction of $148,300.00. Following the transaction, the director owned 322,941 shares of the company's stock, valued at approximately $4,789,215.03. This represents a 3.20% 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 have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in PENN Entertainment by 4.3% in 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 acquiring an additional 55,138 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of PENN Entertainment during the fourth quarter valued at about $596,000. Raymond James Financial Inc. bought a new position in shares of PENN Entertainment during the fourth quarter valued at about $17,804,000. Swiss National Bank grew its stake in shares of PENN Entertainment by 0.6% during the fourth quarter. Swiss National Bank now owns 269,284 shares of the company's stock valued at $5,337,000 after buying an additional 1,500 shares during the last quarter. Finally, Contrarius Group Holdings Ltd bought a new position in shares of PENN Entertainment during the fourth quarter valued at about $34,994,000. Hedge funds and other institutional investors own 91.69% of the company's stock.

PENN Entertainment Stock Performance

Shares of PENN opened at $17.75 on Tuesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a 50 day moving average price of $16.52 and a two-hundred day moving average price of $17.66. The firm has a market capitalization of $2.68 billion, a P/E ratio of -28.63 and a beta of 1.61. PENN Entertainment has a 52 week low of $13.25 and a 52 week high of $23.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping analysts' consensus estimates 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%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.76) EPS. Equities analysts forecast that PENN Entertainment will post -1.61 earnings per share for the current fiscal year.

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.

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