PENN Entertainment (NASDAQ:PENN – Get Free Report) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.
PENN has been the topic of several other reports. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th. Craig Hallum reissued a “buy” rating and set a $30.00 price objective on shares of PENN Entertainment in a research report on Tuesday, October 8th. Truist Financial decreased their target price on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Mizuho cut their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Finally, Barclays lowered their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.44.
Check Out Our Latest Stock Report on PENN
PENN Entertainment Trading Down 3.4 %
PENN Entertainment (NASDAQ:PENN – Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the business posted $1.21 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. On average, research analysts expect that PENN Entertainment will post -1.55 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC boosted its stake in PENN Entertainment by 2.7% in the second quarter. Commonwealth Equity Services LLC now owns 49,872 shares of the company’s stock valued at $965,000 after acquiring an additional 1,289 shares during the last quarter. Arizona State Retirement System lifted its position in shares of PENN Entertainment by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock valued at $743,000 after buying an additional 944 shares during the last quarter. Oak Thistle LLC bought a new position in shares of PENN Entertainment during the 2nd quarter worth $421,000. United Services Automobile Association increased its holdings in PENN Entertainment by 6.3% in the 2nd quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock worth $232,000 after acquiring an additional 712 shares during the last quarter. Finally, VitalStone Financial LLC bought a new stake in PENN Entertainment in the 2nd quarter valued at about $336,000. Hedge funds and other institutional investors 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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