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

Shares of PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) have earned an average rating of "Moderate Buy" from the nineteen ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $23.18.

A number of analysts have issued reports on PENN shares. Citigroup upgraded shares of PENN Entertainment to an "outperform" rating in a research note on Thursday, June 26th. Mizuho reduced their target price on shares of PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Monday, May 12th. Citizens Jmp upgraded shares of PENN Entertainment from a "market perform" rating to an "outperform" rating and set a $24.00 target price for the company in a research note on Thursday, June 26th. Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a research note on Monday, May 19th. Finally, JMP Securities upgraded shares of PENN Entertainment from a "market perform" rating to a "market outperform" rating and set a $24.00 target price for the company in a research note on Thursday, June 26th.

Insiders Place Their Bets

In related news, CEO Jay A. Snowden purchased 34,000 shares of PENN Entertainment stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $14.70 per share, with a total value of $499,800.00. Following the acquisition, the chief executive officer directly owned 1,082,625 shares in the company, valued at approximately $15,914,587.50. This trade represents a 3.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David A. Handler purchased 10,000 shares of PENN Entertainment stock in a transaction on Thursday, May 22nd. The stock was bought at an average cost of $14.83 per share, with a total value of $148,300.00. Following the completion of the acquisition, the director owned 322,941 shares in the company, valued at approximately $4,789,215.03. This trade represents a 3.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.67% of the stock is owned by corporate insiders.

Institutional Trading of PENN Entertainment

A number of hedge funds have recently bought and sold shares of PENN. Charles Schwab Investment Management Inc. boosted its holdings in PENN Entertainment by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,337,162 shares of the company's stock valued at $26,503,000 after purchasing an additional 55,138 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of PENN Entertainment in the 4th quarter valued at $596,000. Raymond James Financial Inc. acquired a new position in shares of PENN Entertainment in the 4th quarter valued at $17,804,000. Swiss National Bank raised its stake in shares of PENN Entertainment by 0.6% in the 4th 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 in the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new position in shares of PENN Entertainment in the 4th quarter valued at $34,994,000. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Stock Down 1.7%

PENN traded down $0.31 on Tuesday, reaching $17.95. 1,047,550 shares of the company traded hands, compared to its average volume of 3,818,014. The stock's 50 day moving average price is $16.66 and its 200-day moving average price is $17.65. PENN Entertainment has a 52-week low of $13.25 and a 52-week high of $23.08. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -28.96 and a beta of 1.61. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.74 and a quick ratio of 0.74.

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