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

Key Points

• PENN Entertainment, Inc. has received an average consensus rating of "Moderate Buy" from 18 brokerages, with 11 recommending a buy and 1 a sell.
• The average 12-month price target for PENN Entertainment is $23.25, reflecting varied outlooks from different analysts, with recent targets adjusted between $19.00 and $25.00.
• Insider trading activity includes Director David A. Handler purchasing 20,000 shares at $16.96 per share, indicating confidence in the company’s future.

Shares of PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eighteen brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and eleven have given 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 $23.25.

Several analysts recently weighed in on the company. Barclays decreased their price objective on PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Susquehanna restated a "positive" rating and issued a $25.00 price objective (up from $24.00) on shares of PENN Entertainment in a report on Tuesday, June 10th. Stifel Nicolaus lifted their price objective on PENN Entertainment from $17.00 to $19.00 and gave the company a "hold" rating in a report on Friday, July 11th. Citizens Jmp upgraded PENN Entertainment from a "market perform" rating to an "outperform" rating and set a $24.00 price objective for the company in a report on Thursday, June 26th. Finally, Morgan Stanley restated a "sell" rating on shares of PENN Entertainment in a report on Friday, July 11th.

Insider Buying and Selling

In other news, Director David A. Handler bought 20,000 shares of PENN Entertainment stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $16.96 per share, for a total transaction of $339,200.00. Following the completion of the acquisition, the director owned 342,941 shares of the company's stock, valued at $5,816,279.36. This trade represents a 6.19% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.67% of the company's stock.

Hedge Funds Weigh In On PENN Entertainment

A number of large investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in PENN Entertainment by 54.6% in the first quarter. Invesco Ltd. now owns 6,002,749 shares of the company's stock worth $97,905,000 after purchasing an additional 2,120,740 shares in the last quarter. DME Capital Management LP grew its stake in shares of PENN Entertainment by 2.3% during the fourth quarter. DME Capital Management LP now owns 5,748,440 shares of the company's stock worth $113,934,000 after acquiring an additional 127,670 shares during the last quarter. Hill Path Capital LP purchased a new stake in shares of PENN Entertainment during the second quarter worth about $62,595,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of PENN Entertainment during the second quarter worth about $40,214,000. Finally, Norges Bank purchased a new stake in shares of PENN Entertainment during the second quarter worth about $39,737,000. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Performance

Shares of NASDAQ:PENN opened at $19.97 on Wednesday. The firm has a market cap of $2.92 billion, a PE ratio of -35.66 and a beta of 1.41. The firm's 50 day simple moving average is $18.39 and its 200-day simple moving average is $17.22. PENN Entertainment has a one year low of $13.25 and a one year high of $23.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.79 and a current ratio of 0.79.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.14. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. PENN Entertainment had a negative net margin of 1.12% and a negative return on equity of 4.36%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted ($0.18) earnings per share. As a group, equities analysts predict that PENN Entertainment will post -1.61 EPS for the current 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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