PENN Entertainment (NASDAQ:PENN) Earns Positive Rating from Susquehanna

PENN Entertainment (NASDAQ:PENNGet Free Report)‘s stock had its “positive” rating reissued by research analysts at Susquehanna in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a $25.00 price objective on the stock, up from their prior price objective of $24.00. Susquehanna’s price objective would indicate a potential upside of 48.63% from the stock’s current price.

Several other equities analysts have also commented on the company. Needham & Company LLC reduced their price target on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Morgan Stanley reduced their price target on PENN Entertainment from $17.50 to $16.50 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus reduced their price target on PENN Entertainment from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research report on Monday, May 19th. Finally, Mizuho reduced their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.23.

View Our Latest Analysis on PENN Entertainment

PENN Entertainment Stock Performance

NASDAQ PENN opened at $16.82 on Tuesday. The firm has a market capitalization of $2.54 billion, a P/E ratio of -4.74, a P/E/G ratio of 1.55 and a beta of 1.57. PENN Entertainment has a 1-year low of $13.25 and a 1-year high of $23.08. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The business’s 50-day simple moving average is $15.27 and its 200-day simple moving average is $18.05.

PENN Entertainment (NASDAQ:PENNGet Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.04. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.71 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.76) EPS. Equities analysts predict that PENN Entertainment will post -1.61 EPS for the current year.

Insiders Place Their Bets

In other PENN Entertainment news, CEO Jay A. Snowden purchased 34,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was bought at an average price of $14.70 per share, with a total value of $499,800.00. Following the completion of the purchase, the chief executive officer now owns 1,082,625 shares in the company, valued at $15,914,587.50. This trade represents a 3.24% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Handler purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average cost of $14.83 per share, with a total value of $148,300.00. Following the purchase, the director now owns 322,941 shares of the company’s stock, valued at approximately $4,789,215.03. This represents a 3.20% increase in their position. The disclosure for this purchase can be found here. 2.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PENN. Quarry LP bought a new position in shares of PENN Entertainment in the first quarter worth $30,000. IFP Advisors Inc boosted its stake in PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after buying an additional 1,052 shares in the last quarter. GAMMA Investing LLC boosted its stake in PENN Entertainment by 38.7% during the first quarter. GAMMA Investing LLC now owns 2,636 shares of the company’s stock valued at $43,000 after buying an additional 736 shares in the last quarter. Byrne Asset Management LLC boosted its stake in PENN Entertainment by 201.1% during the first quarter. Byrne Asset Management LLC now owns 2,710 shares of the company’s stock valued at $44,000 after buying an additional 1,810 shares in the last quarter. Finally, State of Wyoming bought a new position in PENN Entertainment during the first quarter valued at about $46,000. Institutional investors own 91.69% of the company’s stock.

About PENN Entertainment

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for PENN Entertainment (NASDAQ:PENN)

Receive News & Ratings for PENN Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PENN Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.