PENN Entertainment, Inc. (NASDAQ:PENN) Receives Average Rating of “Hold” from Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $22.60.

Several equities analysts recently weighed in on the company. Citizens Jmp cut their price objective on PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating for the company in a research report on Friday, November 7th. Stifel Nicolaus upgraded PENN Entertainment from a “hold” rating to a “buy” rating and upped their price target for the stock from $19.00 to $21.00 in a report on Friday, November 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of PENN Entertainment in a research report on Wednesday, November 5th. JMP Securities upped their target price on shares of PENN Entertainment from $24.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, August 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of PENN Entertainment in a report on Friday, November 7th.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock opened at $14.60 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39. The firm has a fifty day simple moving average of $17.73 and a 200-day simple moving average of $17.49. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -26.07 and a beta of 1.53. PENN Entertainment has a 1-year low of $13.25 and a 1-year high of $23.08.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.12). PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the business earned ($0.24) EPS. The business’s revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts expect that PENN Entertainment will post -1.61 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jay A. Snowden purchased 34,700 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $14.32 per share, for a total transaction of $496,904.00. Following the completion of the purchase, the chief executive officer directly owned 1,117,325 shares of the company’s stock, valued at approximately $16,000,094. The trade was a 3.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.67% of the stock is currently owned by company insiders.

Institutional Trading of PENN Entertainment

Several institutional investors have recently modified their holdings of the company. Hill Path Capital LP acquired a new position in shares of PENN Entertainment in the second quarter valued at $62,595,000. Arrowstreet Capital Limited Partnership bought a new stake in PENN Entertainment in the 2nd quarter valued at $40,214,000. Norges Bank acquired a new position in shares of PENN Entertainment in the 2nd quarter valued at $39,737,000. Invesco Ltd. lifted its holdings in shares of PENN Entertainment by 54.6% during the 1st quarter. Invesco Ltd. now owns 6,002,749 shares of the company’s stock worth $97,905,000 after acquiring an additional 2,120,740 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in shares of PENN Entertainment during the 3rd quarter valued at about $40,537,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.