Benchmark Reiterates “Hold” Rating for PENN Entertainment (NASDAQ:PENN)

PENN Entertainment (NASDAQ:PENN)‘s stock had its “hold” rating reissued by equities researchers at Benchmark in a research report issued to clients and investors on Friday,Benzinga reports.

A number of other equities research analysts have also recently commented on the company. Barclays dropped their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Susquehanna cut their price objective on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research report on Monday, November 4th. Truist Financial decreased their target price on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Mizuho cut their price target on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.96.

PENN Entertainment Stock Up 1.3 %

Shares of PENN stock opened at $20.49 on Friday. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $27.20. The stock has a market cap of $3.13 billion, a P/E ratio of -2.53 and a beta of 2.09. The stock has a 50 day moving average of $19.02 and a 200 day moving average of $18.34. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. As a group, sell-side analysts expect that PENN Entertainment will post -1.41 EPS for the current year.

Insider Transactions at PENN Entertainment

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

Hedge Funds Weigh In On PENN Entertainment

Several large investors have recently made changes to their positions in PENN. BNP Paribas Financial Markets lifted its stake in PENN Entertainment by 603.3% during the first quarter. BNP Paribas Financial Markets now owns 93,384 shares of the company’s stock worth $1,701,000 after purchasing an additional 80,106 shares in the last quarter. Quantbot Technologies LP acquired a new position in PENN Entertainment during the 1st quarter worth about $759,000. Sei Investments Co. boosted its holdings in PENN Entertainment by 13.1% during the 1st quarter. Sei Investments Co. now owns 2,372,277 shares of the company’s stock valued at $43,199,000 after acquiring an additional 274,074 shares during the period. Headlands Technologies LLC purchased a new position in PENN Entertainment during the 1st quarter valued at about $289,000. Finally, Entropy Technologies LP acquired a new position in PENN Entertainment in the 1st quarter valued at about $737,000. 91.69% of the stock is currently 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.