Shares of PENN Entertainment, Inc. (NASDAQ:PENN – Get Free Report) saw unusually-high trading volume on Monday . Approximately 7,918,603 shares traded hands during trading, an increase of 42% from the previous session’s volume of 5,570,471 shares.The stock last traded at $19.71 and had previously closed at $19.19.
Wall Street Analysts Forecast Growth
PENN has been the subject of several research reports. Mizuho dropped their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Craig Hallum reissued a “buy” rating and issued a $30.00 price objective on shares of PENN Entertainment in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. Finally, Jefferies Financial Group lifted their price objective on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.44.
Check Out Our Latest Stock Report on PENN
PENN Entertainment Price Performance
PENN Entertainment (NASDAQ:PENN – Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $1.21 earnings per share. As a group, research analysts anticipate that PENN Entertainment, Inc. will post -1.55 EPS for the current year.
Hedge Funds Weigh In On PENN Entertainment
A number of hedge funds have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC bought a new position in shares of PENN Entertainment in the second quarter valued at approximately $4,535,000. Janus Henderson Group PLC lifted its stake in PENN Entertainment by 244.7% during the 3rd quarter. Janus Henderson Group PLC now owns 249,106 shares of the company’s stock valued at $4,697,000 after acquiring an additional 176,844 shares in the last quarter. Quantbot Technologies LP lifted its stake in PENN Entertainment by 84.7% during the 3rd quarter. Quantbot Technologies LP now owns 208,094 shares of the company’s stock valued at $3,925,000 after acquiring an additional 95,423 shares in the last quarter. Verition Fund Management LLC boosted its holdings in PENN Entertainment by 367.2% during the 3rd quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock worth $8,543,000 after acquiring an additional 356,029 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new stake in shares of PENN Entertainment in the 2nd quarter worth $6,363,000. Institutional investors and hedge funds own 91.69% of the company’s stock.
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.
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