Susquehanna Has Lowered Expectations for PENN Entertainment (NASDAQ:PENN) Stock Price

PENN Entertainment (NASDAQ:PENN) had its price target cut by Susquehanna from $26.00 to $25.00 in a research note released on Monday,Benzinga reports. They currently have a positive rating on the stock.

Other equities analysts have also issued research reports about the stock. Craig Hallum reaffirmed a “buy” rating and set a $30.00 price target on shares of PENN Entertainment in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft increased their target price on PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Barclays lowered their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Needham & Company LLC restated a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a report on Tuesday, October 8th. Finally, Morgan Stanley dropped their target price on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.89.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $20.22 on Monday. The company has a market cap of $3.09 billion, a P/E ratio of -2.49 and a beta of 2.09. The business has a fifty day simple moving average of $18.98 and a 200-day simple moving average of $18.31. PENN Entertainment has a 52 week low of $13.50 and a 52 week high of $27.20. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.35.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.09. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. Equities research analysts forecast that PENN Entertainment will post -1.36 EPS for the current year.

Insider Activity

In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of PENN Entertainment stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the acquisition, the chief executive officer now owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director David A. Handler purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the purchase, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay A. Snowden acquired 54,200 shares of PENN Entertainment stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the purchase, the chief executive officer now directly owns 853,045 shares in the company, valued at $15,730,149.80. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 79,200 shares of company stock worth $1,450,548 over the last ninety days. Corporate insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of PENN. Pathstone Holdings LLC increased its holdings in PENN Entertainment by 10.2% in the third quarter. Pathstone Holdings LLC now owns 394,244 shares of the company’s stock valued at $7,435,000 after buying an additional 36,347 shares during the last quarter. Quest Partners LLC acquired a new position in shares of PENN Entertainment in the 3rd quarter worth approximately $56,000. Natixis Advisors LLC increased its holdings in shares of PENN Entertainment by 25.3% in the 3rd quarter. Natixis Advisors LLC now owns 303,655 shares of the company’s stock valued at $5,727,000 after acquiring an additional 61,285 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of PENN Entertainment during the 3rd quarter valued at approximately $586,000. Finally, Versor Investments LP bought a new position in PENN Entertainment during the third quarter worth $571,000. Institutional investors 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.