PENN Entertainment (NASDAQ:PENN) Rating Increased to Outperform at Citizens Jmp

PENN Entertainment (NASDAQ:PENN - Get Free Report) was upgraded by Citizens Jmp from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Thursday,Finviz reports. The firm currently has a $24.00 target price on the stock. Citizens Jmp's target price suggests a potential upside of 37.93% from the stock's current price.

Several other analysts have also commented on PENN. Morgan Stanley decreased their price target on PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus cut their price target on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. Benchmark restated a "hold" rating on shares of PENN Entertainment in a research report on Monday, May 19th. Susquehanna reiterated a "positive" rating and set a $25.00 target price (up from $24.00) on shares of PENN Entertainment in a research report on Tuesday, June 10th. Finally, Citigroup raised PENN Entertainment to an "outperform" rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.09.

PENN Entertainment Price Performance

NASDAQ PENN opened at $17.40 on Thursday. The stock has a 50-day simple moving average of $15.72 and a 200 day simple moving average of $17.74. PENN Entertainment has a twelve month low of $13.25 and a twelve month high of $23.08. The stock has a market capitalization of $2.63 billion, a PE ratio of -28.06 and a beta of 1.56. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.74 and a current ratio of 0.74.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. PENN Entertainment had a negative return on equity of 5.75% and a negative net margin of 1.28%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the business posted ($0.76) EPS. The company's revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts anticipate that PENN Entertainment will post -1.61 EPS for the current year.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden purchased 34,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $14.70 per share, for a total transaction of $499,800.00. Following the purchase, the chief executive officer now 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David A. Handler acquired 10,000 shares of PENN Entertainment stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $14.83 per share, with a total value of $148,300.00. Following the completion of the transaction, the director now owns 322,941 shares of the company's stock, valued at approximately $4,789,215.03. This trade represents a 3.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.67% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new stake in shares of PENN Entertainment during the fourth quarter worth approximately $596,000. Raymond James Financial Inc. acquired a new stake in PENN Entertainment during the 4th quarter worth approximately $17,804,000. IFP Advisors Inc boosted its stake in PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock valued at $31,000 after purchasing an additional 1,052 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in PENN Entertainment by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,337,162 shares of the company's stock valued at $26,503,000 after purchasing an additional 55,138 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in PENN Entertainment by 33.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 264,587 shares of the company's stock valued at $5,244,000 after buying an additional 65,596 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

About PENN Entertainment

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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