PENN Entertainment (NASDAQ:PENN) Sets New 12-Month Low – Time to Sell?

PENN Entertainment, Inc. (NASDAQ:PENN) hit a new 52-week low during trading on Tuesday . The stock traded as low as $13.24 and last traded at $13.4580, with a volume of 322185 shares traded. The stock had previously closed at $13.65.

Analysts Set New Price Targets

Several research firms have weighed in on PENN. Wells Fargo & Company initiated coverage on PENN Entertainment in a research report on Tuesday. They set an “underweight” rating and a $15.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PENN Entertainment from $19.00 to $17.00 and set a “hold” rating on the stock in a report on Friday, November 7th. JMP Securities boosted their target price on shares of PENN Entertainment from $24.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday, August 8th. Wall Street Zen cut PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Citigroup reissued an “outperform” rating on shares of PENN Entertainment in a report on Friday, August 8th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, PENN Entertainment presently has an average rating of “Hold” and a consensus target price of $22.00.

PENN Entertainment Stock Performance

The stock has a market cap of $1.80 billion, a P/E ratio of -24.07 and a beta of 1.53. The business has a 50 day moving average price of $17.60 and a 200 day moving average price of $17.48. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 2.39.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted ($0.24) earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts expect that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden acquired 34,700 shares of PENN Entertainment stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average price of $14.32 per share, with a total value of $496,904.00. Following the completion of the purchase, the chief executive officer directly owned 1,117,325 shares of the company’s stock, valued at approximately $16,000,094. This represents a 3.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PENN. Hill Path Capital LP acquired a new position in PENN Entertainment during the 2nd quarter valued at about $62,595,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of PENN Entertainment during the 2nd quarter valued at about $40,214,000. Norges Bank acquired a new position in PENN Entertainment in the second quarter valued at approximately $39,737,000. Invesco Ltd. grew its position in PENN Entertainment by 54.6% during the first quarter. Invesco Ltd. now owns 6,002,749 shares of the company’s stock valued at $97,905,000 after buying an additional 2,120,740 shares during the period. Finally, Hennessy Advisors Inc. purchased a new position in shares of PENN Entertainment in the 3rd quarter valued at about $40,537,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

About PENN Entertainment

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.