PENN Entertainment's (PENN) "Positive" Rating Reiterated at Susquehanna

Susquehanna reissued their positive rating on shares of PENN Entertainment (NASDAQ:PENN - Free Report) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $25.00 price target on the stock, up from their prior price target of $24.00.

A number of other brokerages also recently weighed in on PENN. Canaccord Genuity Group cut their price target on shares of PENN Entertainment from $28.00 to $26.00 and set a "buy" rating for the company in a report on Monday, May 5th. Truist Financial cut their price target on shares of PENN Entertainment from $23.00 to $20.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a report on Monday, May 19th. Mizuho cut their price target on shares of PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Monday, May 12th. Finally, Needham & Company LLC dropped their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment currently has an average rating of "Hold" and a consensus price target of $23.23.

PENN Entertainment Stock Performance

PENN traded up $0.01 on Tuesday, reaching $16.82. The company had a trading volume of 3,758,384 shares, compared to its average volume of 4,064,026. PENN Entertainment has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The stock has a market cap of $2.54 billion, a P/E ratio of -4.74, a P/E/G ratio of 1.55 and a beta of 1.57. The company's fifty day moving average is $15.27 and its 200 day moving average is $18.05. 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 (NASDAQ:PENN - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business posted ($0.76) EPS. The business's revenue was up 4.1% compared to the same quarter last year. As a group, analysts predict that PENN Entertainment will post -1.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jay A. Snowden purchased 34,000 shares of PENN Entertainment stock in a transaction on Thursday, May 22nd. The stock was acquired at an average cost of $14.70 per share, for a total transaction 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 trade represents a 3.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Handler acquired 10,000 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was acquired at an average cost of $14.83 per share, for a total transaction 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 approximately $4,789,215.03. This represents a 3.20% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.67% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quarry LP bought a new position in shares of PENN Entertainment in the first quarter valued at $30,000. IFP Advisors Inc lifted its position in shares of PENN Entertainment by 201.5% during the fourth 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of PENN Entertainment by 38.7% during the first quarter. GAMMA Investing LLC now owns 2,636 shares of the company's stock valued at $43,000 after purchasing an additional 736 shares in the last quarter. Byrne Asset Management LLC lifted its position in shares of PENN Entertainment by 201.1% during the first quarter. Byrne Asset Management LLC now owns 2,710 shares of the company's stock valued at $44,000 after purchasing an additional 1,810 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of PENN Entertainment during the first quarter valued at about $46,000. 91.69% of the stock is owned by institutional investors.

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.