PENN Entertainment (NASDAQ:PENN) PT Raised to $25.00

PENN Entertainment (NASDAQ:PENN) had its price objective upped by equities researchers at Truist Financial from $23.00 to $25.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 43.68% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus lowered their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Canaccord Genuity Group lowered their price target on PENN Entertainment from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Wells Fargo & Company lowered their price objective on PENN Entertainment from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, May 3rd. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, June 4th. Finally, Susquehanna lowered their price objective on PENN Entertainment from $27.00 to $26.00 and set a “positive” rating on the stock in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.43.

PENN Entertainment Trading Down 8.7 %

PENN Entertainment stock opened at $17.40 on Friday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50-day simple moving average is $16.53 and its 200-day simple moving average is $19.84. The firm has a market capitalization of $2.65 billion, a PE ratio of -2.34 and a beta of 2.06. PENN Entertainment has a 52 week low of $13.50 and a 52 week high of $29.38.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.20). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. Equities research analysts forecast that PENN Entertainment will post -1.35 earnings per share for the current year.

Insider Transactions at PENN Entertainment

In related news, Director David A. Handler purchased 40,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was bought at an average cost of $14.94 per share, with a total value of $597,600.00. Following the purchase, the director now directly owns 283,450 shares in the company, valued at approximately $4,234,743. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director David A. Handler acquired 40,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average price of $14.94 per share, for a total transaction of $597,600.00. Following the transaction, the director now directly owns 283,450 shares in the company, valued at $4,234,743. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Handler bought 20,000 shares of PENN Entertainment stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the acquisition, the director now owns 243,450 shares of the company’s stock, valued at approximately $3,741,826.50. The disclosure for this purchase can be found here. Insiders have purchased 76,157 shares of company stock worth $1,154,949 in the last three months. Insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On PENN Entertainment

Large investors have recently made changes to their positions in the stock. Harbor Investment Advisory LLC bought a new stake in PENN Entertainment in the 4th quarter valued at $32,000. Lindbrook Capital LLC raised its stake in shares of PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after purchasing an additional 553 shares during the period. Neo Ivy Capital Management bought a new stake in shares of PENN Entertainment in the fourth quarter valued at about $40,000. Tyler Stone Wealth Management boosted its position in shares of PENN Entertainment by 34.0% during the third quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock worth $45,000 after buying an additional 500 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of PENN Entertainment during the third quarter worth about $55,000. 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.