Analysts Set PENN Entertainment, Inc. (NASDAQ:PENN) PT at $23.10

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) has been given a consensus rating of "Hold" by the eighteen analysts that are presently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $23.10.

A number of research firms have recently issued reports on PENN. Macquarie restated an "outperform" rating and issued a $26.00 price target on shares of PENN Entertainment in a research note on Friday, February 28th. Truist Financial reduced their price objective on PENN Entertainment from $23.00 to $20.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company upped their target price on PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Wall Street Zen upgraded PENN Entertainment from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a report on Monday, May 19th.

Insider Transactions at PENN Entertainment

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

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. M&T Bank Corp grew its position in shares of PENN Entertainment by 4.7% in the 4th quarter. M&T Bank Corp now owns 13,044 shares of the company's stock valued at $259,000 after buying an additional 584 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of PENN Entertainment by 38.7% in the 1st quarter. GAMMA Investing LLC now owns 2,636 shares of the company's stock worth $43,000 after acquiring an additional 736 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of PENN Entertainment by 5.8% in the 4th quarter. CIBC Asset Management Inc now owns 14,774 shares of the company's stock worth $293,000 after buying an additional 813 shares during the last quarter. J.Safra Asset Management Corp lifted its holdings in PENN Entertainment by 6.7% during the first quarter. J.Safra Asset Management Corp now owns 13,877 shares of the company's stock valued at $226,000 after purchasing an additional 877 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in PENN Entertainment by 5.2% during the first quarter. HighTower Advisors LLC now owns 19,327 shares of the company's stock valued at $315,000 after purchasing an additional 953 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Trading Up 2.0%

Shares of PENN stock traded up $0.30 on Monday, hitting $15.38. The company had a trading volume of 3,594,011 shares, compared to its average volume of 4,211,047. The firm has a market cap of $2.32 billion, a P/E ratio of -4.33, a P/E/G ratio of 1.55 and a beta of 1.81. The stock's 50-day moving average is $15.52 and its two-hundred day moving average is $18.44. 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 has a twelve month low of $13.25 and a twelve month high of $23.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.71 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.76) earnings per share. On average, equities research analysts anticipate 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.