PENN Entertainment, Inc. (NASDAQ:PENN) Receives $21.13 Consensus PT from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $20.8125.

Several brokerages recently commented on PENN. Needham & Company LLC reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 7th. Citizens Jmp reduced their price objective on shares of PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating for the company in a report on Friday, November 7th. Citigroup reiterated a “market outperform” rating on shares of PENN Entertainment in a research report on Monday, December 1st. Jefferies Financial Group reissued a “hold” rating and issued a $17.00 price target on shares of PENN Entertainment in a research report on Wednesday, December 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of PENN Entertainment from $19.00 to $17.00 and set a “hold” rating for the company in a research note on Friday, November 7th.

PENN Entertainment Stock Down 1.9%

NASDAQ PENN opened at $12.60 on Friday. PENN Entertainment has a twelve month low of $12.55 and a twelve month high of $23.08. The stock has a market cap of $1.68 billion, a PE ratio of -1.98, a PEG ratio of 0.43 and a beta of 1.39. The firm has a 50-day simple moving average of $14.28 and a 200 day simple moving average of $16.57. The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.75 and a current ratio of 0.75.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.12). PENN Entertainment had a negative net margin of 13.24% and a negative return on equity of 4.59%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company earned ($0.24) EPS. The company’s revenue was up 4.8% on a year-over-year basis. On average, research analysts forecast that PENN Entertainment will post -1.61 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jay A. Snowden bought 34,700 shares of PENN Entertainment stock in a transaction dated Friday, November 7th. The shares were bought at an average price of $14.32 per share, for a total transaction of $496,904.00. Following the purchase, the chief executive officer owned 1,117,325 shares of the company’s stock, valued at approximately $16,000,094. This trade represents a 3.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gupta Vimla Black sold 7,987 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $14.51, for a total transaction of $115,891.37. Following the completion of the sale, the director directly owned 25,000 shares in the company, valued at approximately $362,750. The trade was a 24.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders acquired 62,015 shares of company stock worth $882,778 in the last quarter. Corporate insiders own 2.67% of the company’s stock.

Hedge Funds Weigh In On PENN Entertainment

Several institutional investors have recently added to or reduced their stakes in PENN. Triumph Capital Management bought a new stake in PENN Entertainment during the third quarter worth about $54,000. Cloud Capital Management LLC acquired a new position in shares of PENN Entertainment in the 3rd quarter worth approximately $54,000. GAMMA Investing LLC grew its position in PENN Entertainment by 22.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock worth $59,000 after acquiring an additional 556 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in PENN Entertainment by 33.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock valued at $65,000 after purchasing an additional 825 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in PENN Entertainment in the 3rd quarter valued at $122,000. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Company Profile

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.