PENN Entertainment, Inc. (NASDAQ:PENN) Given Consensus Recommendation of "Hold" by Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) have received an average rating of "Hold" from the eighteen ratings firms that are currently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $23.10.

A number of analysts have recently commented on PENN shares. Susquehanna lowered their price target on PENN Entertainment from $26.00 to $23.00 and set a "positive" rating for the company in a research note on Tuesday, April 15th. Stifel Nicolaus lowered their target price on shares of PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. Macquarie reiterated an "outperform" rating and set a $26.00 target price on shares of PENN Entertainment in a report on Friday, February 28th. Canaccord Genuity Group lowered their price target on PENN Entertainment from $28.00 to $26.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Wells Fargo & Company raised their price target on PENN Entertainment from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd.

Insiders Place Their Bets

In related news, Director David A. Handler acquired 10,000 shares of the company's stock in a transaction dated 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 purchase, the director now directly owns 322,941 shares in the company, valued at approximately $4,789,215.03. This trade represents a 3.20% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay A. Snowden acquired 34,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was bought at an average cost of $14.70 per share, with a total value of $499,800.00. Following the acquisition, the chief executive officer now owns 1,082,625 shares in the company, valued at $15,914,587.50. The trade was a 3.24% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.19% of the company's stock.

Institutional Trading of PENN Entertainment

Large investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in shares of PENN Entertainment by 54.6% in the 1st quarter. Invesco Ltd. now owns 6,002,749 shares of the company's stock valued at $97,905,000 after purchasing an additional 2,120,740 shares during the period. DME Capital Management LP raised its stake in PENN Entertainment by 2.3% in the fourth quarter. DME Capital Management LP now owns 5,748,440 shares of the company's stock valued at $113,934,000 after buying an additional 127,670 shares during the period. Geode Capital Management LLC raised its stake in PENN Entertainment by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 2,500,342 shares of the company's stock valued at $49,572,000 after buying an additional 152,791 shares during the period. Invenomic Capital Management LP lifted its position in shares of PENN Entertainment by 87.8% in the first quarter. Invenomic Capital Management LP now owns 1,859,112 shares of the company's stock valued at $30,322,000 after buying an additional 869,347 shares during the last quarter. Finally, Kettle Hill Capital Management LLC boosted its stake in shares of PENN Entertainment by 43.1% during the 4th quarter. Kettle Hill Capital Management LLC now owns 1,801,787 shares of the company's stock worth $35,711,000 after acquiring an additional 542,585 shares during the period. Institutional investors and hedge funds own 91.69% of the company's stock.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock traded down $0.03 during midday trading on Monday, reaching $15.15. The company had a trading volume of 1,960,812 shares, compared to its average volume of 4,192,223. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -4.27, a price-to-earnings-growth ratio of 1.55 and a beta of 1.81. The stock has a fifty day simple moving average of $15.44 and a 200 day simple moving average of $18.39. PENN Entertainment has a 1-year low of $13.25 and a 1-year high of $23.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its earnings results 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 company had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter in the previous year, the company posted ($0.76) EPS. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, 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.