PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Recommendation of “Hold” from Analysts

PENN Entertainment, Inc. (NASDAQ:PENN) has been assigned a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.25.

Several analysts recently issued reports on PENN shares. Needham & Company LLC reiterated a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 7th. Citigroup restated a “market outperform” rating on shares of PENN Entertainment in a research report on Monday, December 1st. Stifel Nicolaus raised PENN Entertainment from a “hold” rating to a “buy” rating and raised their price objective for the company from $19.00 to $21.00 in a research note on Friday, November 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 target price on shares of PENN Entertainment in a research report on Wednesday, December 24th. Finally, Citizens Jmp lowered their target price on PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating for the company in a research note on Friday, November 7th.

PENN Entertainment Stock Performance

PENN opened at $15.14 on Tuesday. The business’s 50-day simple moving average is $14.78 and its 200 day simple moving average is $17.15. PENN Entertainment has a 52-week low of $13.24 and a 52-week high of $23.08. The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $2.02 billion, a PE ratio of -2.38, a PEG ratio of 0.46 and a beta of 1.34.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.12). The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. PENN Entertainment had a negative net margin of 13.24% and a negative return on equity of 4.59%. PENN Entertainment’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.24) EPS. As a group, sell-side analysts expect that PENN Entertainment will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling at PENN Entertainment

In other news, Director Gupta Vimla Black sold 7,987 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $14.51, for a total transaction of $115,891.37. Following the completion of the transaction, the director owned 25,000 shares of the company’s stock, valued at approximately $362,750. This trade represents a 24.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Handler bought 20,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were bought at an average cost of $14.25 per share, for a total transaction of $285,000.00. Following the completion of the acquisition, the director directly owned 362,941 shares in the company, valued at approximately $5,171,909.25. This trade represents a 5.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 62,015 shares of company stock valued at $882,778 in the last quarter. 2.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Triumph Capital Management bought a new stake in PENN Entertainment in the third quarter worth about $54,000. Mirabella Financial Services LLP bought a new position in PENN Entertainment during the third quarter worth about $222,000. Penn Capital Management Company LLC increased its stake in shares of PENN Entertainment by 26.9% in the third quarter. Penn Capital Management Company LLC now owns 853,731 shares of the company’s stock worth $16,479,000 after purchasing an additional 180,940 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of PENN Entertainment in the third quarter worth about $122,000. Finally, Armistice Capital LLC raised its position in shares of PENN Entertainment by 48.8% in the third quarter. Armistice Capital LLC now owns 2,103,666 shares of the company’s stock valued at $40,517,000 after purchasing an additional 690,078 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Company Profile

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.