PENN Entertainment (NASDAQ:PENN) Rating Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of PENN Entertainment (NASDAQ:PENN) from a hold rating to a sell rating in a research note released on Friday morning.

A number of other analysts have also recently weighed in on PENN. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. Macquarie increased their price target on PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Truist Financial dropped their price target on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Mizuho decreased their price objective on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group boosted their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.44.

PENN Entertainment Trading Down 2.2 %

Shares of NASDAQ PENN opened at $20.02 on Friday. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $24.57. The business has a fifty day moving average price of $19.94 and a 200 day moving average price of $19.36. The stock has a market capitalization of $3.06 billion, a P/E ratio of -5.64, a price-to-earnings-growth ratio of 1.27 and a beta of 2.08. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the firm posted $1.21 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Equities research analysts expect that PENN Entertainment will post -1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PENN. DekaBank Deutsche Girozentrale acquired a new stake in shares of PENN Entertainment during the 3rd quarter worth approximately $45,000. GAMMA Investing LLC boosted its holdings in PENN Entertainment by 88.5% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after buying an additional 1,275 shares in the last quarter. Quest Partners LLC acquired a new stake in PENN Entertainment during the third quarter valued at $56,000. Modus Advisors LLC acquired a new stake in PENN Entertainment during the fourth quarter valued at $63,000. Finally, International Assets Investment Management LLC increased its holdings in PENN Entertainment by 1,634.8% in the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after buying an additional 3,057 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.