PENN Entertainment, Inc. (NASDAQ:PENN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received a consensus recommendation of “Hold” from the nineteen research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $23.25.

A number of analysts recently issued reports on PENN shares. Citizens Jmp upgraded shares of PENN Entertainment from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a research report on Thursday, June 26th. JPMorgan Chase & Co. initiated coverage on PENN Entertainment in a report on Monday, June 23rd. They issued an “overweight” rating and a $24.00 price target for the company. Citigroup reiterated an “outperform” rating on shares of PENN Entertainment in a report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PENN Entertainment in a research report on Saturday, September 27th. Finally, Morgan Stanley reaffirmed a “sell” rating on shares of PENN Entertainment in a research report on Friday, July 11th.

Insider Buying and Selling at PENN Entertainment

In related news, Director David A. Handler bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $16.96 per share, with a total value of $339,200.00. Following the completion of the transaction, the director owned 342,941 shares of the company’s stock, valued at approximately $5,816,279.36. The trade was a 6.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. GAMMA Investing LLC increased its position in PENN Entertainment by 22.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock worth $59,000 after purchasing an additional 556 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in PENN Entertainment by 55.3% during the second quarter. Texas Permanent School Fund Corp now owns 107,498 shares of the company’s stock worth $1,921,000 after buying an additional 38,275 shares during the period. State of Wyoming raised its position in PENN Entertainment by 498.0% in the second quarter. State of Wyoming now owns 16,870 shares of the company’s stock valued at $301,000 after purchasing an additional 14,049 shares during the period. Hudson Bay Capital Management LP grew its stake in shares of PENN Entertainment by 18.0% in the second quarter. Hudson Bay Capital Management LP now owns 2,029,843 shares of the company’s stock valued at $36,273,000 after buying an additional 308,998 shares in the last quarter. Finally, Caxton Associates LLP grew its stake in shares of PENN Entertainment by 119.0% in the second quarter. Caxton Associates LLP now owns 33,059 shares of the company’s stock valued at $591,000 after buying an additional 17,963 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $19.00 on Friday. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -33.93 and a beta of 1.60. The business has a fifty day moving average of $18.97 and a 200-day moving average of $17.24. PENN Entertainment has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 2.39.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.14. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the business posted ($0.18) EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, analysts predict that PENN Entertainment will post -1.61 earnings per share for the current fiscal year.

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.