PENN Entertainment, Inc. (NASDAQ:PENN) Receives $24.30 Consensus Price Target from Brokerages

PENN Entertainment, Inc. (NASDAQ:PENN) has received a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $24.43.

A number of equities research analysts have recently weighed in on PENN shares. Barclays reduced their price objective on shares of PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Susquehanna decreased their price objective on shares of PENN Entertainment from $27.00 to $26.00 and set a “positive” rating for the company in a research note on Friday, May 31st. Canaccord Genuity Group cut their target price on PENN Entertainment from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th.

PENN Entertainment Trading Down 8.7 %

NASDAQ PENN opened at $17.40 on Monday. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $2.65 billion, a P/E ratio of -2.34 and a beta of 2.06. The firm’s 50-day moving average is $16.53 and its two-hundred day moving average is $19.80. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $29.38.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. On average, sell-side analysts anticipate that PENN Entertainment will post -1.35 earnings per share for the current year.

Insider Buying and Selling at PENN Entertainment

In other news, CFO Felicia Hendrix bought 16,157 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the transaction, the chief financial officer now owns 68,596 shares in the company, valued at $1,061,180.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director David A. Handler acquired 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 of the company’s stock, valued at $4,234,743. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Felicia Hendrix bought 16,157 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the purchase, the chief financial officer now owns 68,596 shares in the company, valued at approximately $1,061,180.12. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 76,157 shares of company stock valued at $1,154,949. 2.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PENN Entertainment

A number of large investors have recently added to or reduced their stakes in PENN. Vanguard Group Inc. lifted its stake in PENN Entertainment by 0.4% during the first quarter. Vanguard Group Inc. now owns 14,789,817 shares of the company’s stock worth $269,323,000 after purchasing an additional 59,897 shares during the last quarter. Earnest Partners LLC raised its position in shares of PENN Entertainment by 4.0% during the first quarter. Earnest Partners LLC now owns 3,938,133 shares of the company’s stock worth $71,713,000 after purchasing an additional 151,025 shares during the period. Sei Investments Co. lifted its holdings in shares of PENN Entertainment by 13.1% in the first quarter. Sei Investments Co. now owns 2,372,277 shares of the company’s stock valued at $43,199,000 after purchasing an additional 274,074 shares in the last quarter. Invenomic Capital Management LP increased its stake in PENN Entertainment by 71.9% in the 1st quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock valued at $34,313,000 after buying an additional 787,968 shares during the period. Finally, Norges Bank acquired a new position in PENN Entertainment in the fourth quarter worth approximately $42,758,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.