PENN Entertainment (NASDAQ:PENN) PT Lowered to $24.00 at Mizuho

PENN Entertainment (NASDAQ:PENN) had its price target reduced by Mizuho from $25.00 to $24.00 in a report issued on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Macquarie restated an “outperform” rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 target price on shares of PENN Entertainment in a report on Tuesday, October 8th. Raymond James lowered PENN Entertainment from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus upped their price objective on PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, PENN Entertainment has a consensus rating of “Hold” and an average price target of $22.96.

PENN Entertainment Trading Up 3.1 %

Shares of NASDAQ:PENN opened at $19.19 on Tuesday. The company has a market capitalization of $2.93 billion, a P/E ratio of -2.37 and a beta of 2.10. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50 day simple moving average is $18.91 and its 200 day simple moving average is $18.11. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $27.20.

PENN Entertainment (NASDAQ:PENN) last released its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. PENN Entertainment’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS. On average, research analysts anticipate that PENN Entertainment will post -1.37 EPS for the current fiscal year.

Insider Activity

In other PENN Entertainment news, Director David A. Handler acquired 10,000 shares of PENN Entertainment stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average price of $17.51 per share, with a total value of $175,100.00. Following the completion of the purchase, the director now directly owns 293,450 shares in the company, valued at $5,138,309.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Anuj Dhanda purchased 15,000 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the acquisition, the director now owns 31,523 shares in the company, valued at $580,023.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Handler bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the acquisition, the director now owns 293,450 shares of the company’s stock, valued at $5,138,309.50. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 79,200 shares of company stock valued at $1,450,548. Insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after purchasing an additional 1,009 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in PENN Entertainment in the third quarter valued at approximately $45,000. International Assets Investment Management LLC boosted its holdings in shares of PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after buying an additional 3,057 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of PENN Entertainment during the 2nd quarter worth approximately $83,000. Finally, Quarry LP increased its stake in shares of PENN Entertainment by 76.7% in the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after acquiring an additional 1,862 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

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.