Brokerages Set PENN Entertainment, Inc. (NASDAQ:PENN) Price Target at $22.80

PENN Entertainment, Inc. (NASDAQ:PENN) has received a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $22.80.

Several research firms have issued reports on PENN. Stifel Nicolaus lifted their price target on shares of PENN Entertainment from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, July 11th. Wall Street Zen cut shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Morgan Stanley restated a “sell” rating on shares of PENN Entertainment in a report on Friday, July 11th. Citigroup restated an “outperform” rating on shares of PENN Entertainment in a report on Friday, August 8th. Finally, JMP Securities lifted their price objective 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.

Insider Activity

In related news, Director David A. Handler acquired 20,000 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $16.96 per share, for a total transaction of $339,200.00. Following the acquisition, the director owned 342,941 shares in the company, valued at $5,816,279.36. This trade represents a 6.19% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.67% of the company’s stock.

Institutional Trading of PENN Entertainment

Several large investors have recently added to or reduced their stakes in PENN. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 736 shares during the last quarter. Blue Trust Inc. grew its stake in shares of PENN Entertainment by 56.0% during the first quarter. Blue Trust Inc. now owns 8,839 shares of the company’s stock valued at $144,000 after purchasing an additional 3,174 shares during the last quarter. New World Advisors LLC grew its stake in shares of PENN Entertainment by 18.8% during the first quarter. New World Advisors LLC now owns 20,900 shares of the company’s stock valued at $341,000 after purchasing an additional 3,300 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of PENN Entertainment by 10.7% during the first quarter. Illinois Municipal Retirement Fund now owns 98,134 shares of the company’s stock valued at $1,601,000 after purchasing an additional 9,486 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of PENN Entertainment by 42.2% during the first quarter. KBC Group NV now owns 7,824 shares of the company’s stock valued at $128,000 after purchasing an additional 2,323 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Stock Down 1.6%

Shares of NASDAQ PENN opened at $17.72 on Thursday. PENN Entertainment has a 12-month low of $13.25 and a 12-month high of $23.08. The company has a market cap of $2.59 billion, a P/E ratio of -31.64 and a beta of 1.60. 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 stock has a fifty day moving average price of $18.83 and a 200 day moving average price of $17.36.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.14. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) EPS. Research analysts anticipate that PENN Entertainment will post -1.61 EPS 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.