PENN Entertainment (NASDAQ:PENN – Get 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
PENN Entertainment (NASDAQ:PENN – Get 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
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.
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