PENN Entertainment, Inc. (NASDAQ:PENN) Receives $25.03 Consensus Price Target from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $25.03.

Several research analysts have commented on PENN shares. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, June 4th. Craig Hallum raised PENN Entertainment from a “hold” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $30.00 in a research note on Friday, June 21st. Needham & Company LLC reissued a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a research note on Wednesday, May 15th. Wells Fargo & Company lowered their price objective on PENN Entertainment from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, May 3rd. Finally, Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research note on Friday, May 3rd.

Insider Activity

In other news, Director David A. Handler acquired 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average cost of $14.94 per share, with a total value of $597,600.00. Following the acquisition, the director now owns 283,450 shares in the company, valued at approximately $4,234,743. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On PENN Entertainment

A number of large investors have recently bought and sold shares of the stock. Flight Deck Capital LP bought a new stake in shares of PENN Entertainment during the fourth quarter valued at approximately $3,511,000. Contrarius Investment Management Ltd boosted its position in shares of PENN Entertainment by 139.0% during the fourth quarter. Contrarius Investment Management Ltd now owns 892,394 shares of the company’s stock valued at $23,220,000 after purchasing an additional 518,995 shares in the last quarter. Seven Eight Capital LP boosted its position in shares of PENN Entertainment by 95.3% during the fourth quarter. Seven Eight Capital LP now owns 213,019 shares of the company’s stock valued at $5,543,000 after purchasing an additional 103,937 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of PENN Entertainment by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock valued at $383,273,000 after purchasing an additional 97,945 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in shares of PENN Entertainment by 50.0% during the fourth quarter. Gabelli Funds LLC now owns 24,000 shares of the company’s stock valued at $624,000 after purchasing an additional 8,000 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Trading Down 5.0 %

PENN opened at $16.97 on Tuesday. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $29.38. The company has a 50-day simple moving average of $18.47 and a 200 day simple moving average of $18.43. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -2.28 and a beta of 2.11.

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.