PENN Entertainment (NASDAQ:PENN) Given Sell (D-) Rating at Weiss Ratings

Key Points

• PENN Entertainment has been given a "sell (D-)" rating by Weiss Ratings, reflecting concerns from analysts regarding the company's stock performance.
• Despite the downgrade, several analysts maintain favorable positions, with ten rating the stock as a Buy and setting a consensus target price of $22.80.
• The company's recent earnings report showed a 6.1% revenue increase year-over-year, with earnings per share topping expectations at $0.10.

PENN Entertainment (NASDAQ:PENN - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by stock analysts at Weiss Ratings in a research report issued to clients and investors on Tuesday,Weiss Ratings reports.

Several other analysts have also issued reports on the company. Needham & Company LLC reduced their target price on PENN Entertainment from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Friday, August 8th. JPMorgan Chase & Co. initiated coverage on PENN Entertainment in a research note on Monday, June 23rd. They set an "overweight" rating and a $24.00 price target on the stock. Citigroup reissued an "outperform" rating on shares of PENN Entertainment in a research note on Friday, August 8th. JMP Securities increased their target price on shares of PENN Entertainment from $24.00 to $25.00 and gave the company a "market outperform" rating in a research report on Friday, August 8th. Finally, Citizens Jmp upgraded PENN Entertainment from a "market perform" rating to an "outperform" rating and set a $24.00 target price for the company in a report on Thursday, June 26th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $22.80.

PENN Entertainment Stock Performance

Shares of PENN stock traded up $0.51 during trading on Tuesday, reaching $17.25. 1,236,747 shares of the company's stock were exchanged, compared to its average volume of 4,117,755. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $2.52 billion, a PE ratio of -30.81 and a beta of 1.60. PENN Entertainment has a twelve month low of $13.25 and a twelve month high of $23.08. The firm's fifty day moving average price is $18.85 and its 200-day moving average price is $17.24.

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

Insiders Place Their Bets

In other PENN Entertainment news, Director David A. Handler acquired 20,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $16.96 per share, with a total value of $339,200.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.67% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of PENN Entertainment by 22.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,042 shares of the company's stock valued at $59,000 after buying an additional 556 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in shares of PENN Entertainment by 1.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 69,676 shares of the company's stock valued at $1,245,000 after purchasing an additional 745 shares during the period. Parallel Advisors LLC raised its stake in shares of PENN Entertainment by 152.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,397 shares of the company's stock valued at $25,000 after purchasing an additional 843 shares during the period. Keybank National Association OH raised its stake in shares of PENN Entertainment by 6.3% during the 2nd quarter. Keybank National Association OH now owns 14,655 shares of the company's stock valued at $262,000 after purchasing an additional 870 shares during the period. Finally, J.Safra Asset Management Corp raised its stake in shares of PENN Entertainment by 6.7% during the 1st 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 period. Hedge funds and other institutional investors own 91.69% of the company's stock.

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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