PENN Entertainment, Inc. (NASDAQ:PENN) Receives Average Rating of "Hold" from Analysts

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) has been assigned an average recommendation of "Hold" from the eighteen analysts that are presently covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $23.10.

Several equities analysts recently issued reports on PENN shares. Morgan Stanley decreased their target price on PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Canaccord Genuity Group lowered their price objective on shares of PENN Entertainment from $28.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Needham & Company LLC cut their target price 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. Wells Fargo & Company increased their price target on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Finally, Wall Street Zen raised PENN Entertainment from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd.

Insiders Place Their Bets

In other PENN Entertainment news, Director David A. Handler purchased 10,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average cost of $14.83 per share, for a total transaction of $148,300.00. Following the completion of the transaction, the director now owns 322,941 shares in the company, valued at $4,789,215.03. The trade was a 3.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay A. Snowden acquired 34,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average cost of $14.70 per share, for a total transaction of $499,800.00. Following the purchase, the chief executive officer now directly owns 1,082,625 shares in the company, valued at approximately $15,914,587.50. The trade was a 3.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.19% of the stock is currently owned by insiders.

Institutional Trading of PENN Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of PENN. Invesco Ltd. grew its stake in PENN Entertainment by 54.6% during the 1st quarter. Invesco Ltd. now owns 6,002,749 shares of the company's stock valued at $97,905,000 after acquiring an additional 2,120,740 shares in the last quarter. Contrarius Group Holdings Ltd bought a new position in shares of PENN Entertainment in the fourth quarter worth about $34,994,000. Norges Bank acquired a new stake in shares of PENN Entertainment in the fourth quarter worth $27,901,000. Raymond James Financial Inc. acquired a new stake in PENN Entertainment during the fourth quarter worth about $17,804,000. Finally, Invenomic Capital Management LP raised its holdings in PENN Entertainment by 87.8% in the 1st quarter. Invenomic Capital Management LP now owns 1,859,112 shares of the company's stock valued at $30,322,000 after acquiring an additional 869,347 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

PENN Entertainment Price Performance

PENN Entertainment stock traded down $0.08 during midday trading on Monday, reaching $15.03. The company's stock had a trading volume of 313,943 shares, compared to its average volume of 4,290,021. The firm has a market capitalization of $2.27 billion, a PE ratio of -4.23, a P/E/G ratio of 1.55 and a beta of 1.81. PENN Entertainment has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The stock's 50 day simple moving average is $15.39 and its 200 day simple moving average is $18.36. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

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 the consensus estimate of ($0.29) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter last year, the business earned ($0.76) earnings per share. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts forecast that PENN Entertainment will post -1.61 earnings per share 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.