PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• PENN Entertainment has received an average consensus recommendation of "Hold" from 18 analysts, with two sell recommendations, six holds, and ten buys.
• Director David A. Handler recently acquired 20,000 shares of PENN stock at $16.96 each, increasing his ownership by 6.19%.
• The company's stock price recently opened at $17.57, with a 1-year high of $23.08 and 1-year low of $13.25, reflecting its volatile performance.

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) has been given an average recommendation of "Hold" by the eighteen analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $22.80.

PENN has been the topic of several recent analyst reports. Citizens Jmp upgraded shares of PENN Entertainment from a "market perform" rating to an "outperform" rating and set a $24.00 target price on the stock in a report on Thursday, June 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of PENN Entertainment in a report on Tuesday, October 14th. Barclays cut their price target on PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Stifel Nicolaus boosted their price objective on PENN Entertainment from $17.00 to $19.00 and gave the company a "hold" rating in a research note on Friday, July 11th. Finally, Wall Street Zen downgraded PENN Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

Insider Activity

In other PENN Entertainment news, Director David A. Handler acquired 20,000 shares of the company's stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $16.96 per share, with a total value of $339,200.00. Following the completion of the acquisition, the director owned 342,941 shares in the company, valued at approximately $5,816,279.36. This trade represents a 6.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Hill Path Capital LP purchased a new position in PENN Entertainment in the 2nd quarter valued at approximately $62,595,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of PENN Entertainment during the second quarter worth $40,214,000. Norges Bank purchased a new position in shares of PENN Entertainment in the 2nd quarter worth $39,737,000. Invesco Ltd. lifted its stake in shares of PENN Entertainment by 54.6% during 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. Finally, Hennessy Advisors Inc. acquired a new position in shares of PENN Entertainment during the third quarter worth about $40,537,000. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Stock Performance

PENN opened at $17.57 on Thursday. PENN Entertainment has a 1-year low of $13.25 and a 1-year high of $23.08. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -31.37 and a beta of 1.60. The company's fifty day moving average price is $18.84 and its two-hundred day moving average price is $17.28.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.14. PENN Entertainment had a negative net margin of 1.12% and a negative return on equity of 4.36%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned ($0.18) earnings per share. The company's revenue was up 6.1% compared to the same quarter last year. On average, analysts expect that PENN Entertainment will post -1.61 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.