PENN Entertainment’s (PENN) Market Perform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of PENN Entertainment (NASDAQ:PENN) in a research report sent to investors on Tuesday, Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. Truist Financial upgraded shares of PENN Entertainment from a hold rating to a buy rating and set a $23.00 price objective on the stock in a research report on Tuesday. Morgan Stanley boosted their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. Benchmark began coverage on shares of PENN Entertainment in a research report on Tuesday, April 16th. They issued a hold rating on the stock. Stifel Nicolaus cut their target price on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a research note on Friday, February 16th. Finally, Macquarie cut their target price on shares of PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $29.80.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $16.86 on Tuesday. The stock has a market cap of $2.56 billion, a PE ratio of -4.63 and a beta of 2.06. The company’s fifty day moving average is $17.58 and its 200 day moving average is $21.33. PENN Entertainment has a 52 week low of $15.88 and a 52 week high of $31.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Research analysts anticipate that PENN Entertainment will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC bought a new position in PENN Entertainment during the 4th quarter worth about $32,000. Huntington National Bank grew its holdings in PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after acquiring an additional 1,072 shares in the last quarter. Lindbrook Capital LLC grew its holdings in PENN Entertainment by 57.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after acquiring an additional 553 shares in the last quarter. Neo Ivy Capital Management bought a new position in PENN Entertainment during the 4th quarter worth about $40,000. Finally, Signaturefd LLC boosted its holdings in shares of PENN Entertainment by 60.8% in the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after buying an additional 727 shares in the last quarter. 91.69% of the stock is currently owned by 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.