PENN Entertainment (PENN) – Research Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for PENN Entertainment (NASDAQ: PENN):

• 6/25/2024 – PENN Entertainment was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
• 6/21/2024 – PENN Entertainment had its “positive” rating reaffirmed by analysts at Susquehanna. They now have a $26.00 price target on the stock.
• 6/21/2024 – PENN Entertainment was upgraded by analysts at Craig Hallum from a “hold” rating to a “buy” rating. They now have a $30.00 price target on the stock, up previously from $20.00.
• 6/14/2024 – PENN Entertainment had its price target raised by analysts at Truist Financial Co. from $23.00 to $25.00. They now have a “buy” rating on the stock.
• 6/4/2024 – PENN Entertainment had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 5/31/2024 – PENN Entertainment had its price target lowered by analysts at Susquehanna from $27.00 to $26.00. They now have a “positive” rating on the stock.
• 5/21/2024 – PENN Entertainment is now covered by analysts at Raymond James. They set an “outperform” rating and a $20.00 price target on the stock.
• 5/15/2024 – PENN Entertainment had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $26.00 price target on the stock.
• 5/13/2024 – PENN Entertainment was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $17.50 price target on the stock, down previously from $28.00.

PENN Entertainment Stock Performance

PENN traded up $0.68 during midday trading on Friday, hitting $19.42. 3,030,190 shares of the company traded hands, compared to its average volume of 6,289,094. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. The firm has a market capitalization of $2.96 billion, a PE ratio of -2.61 and a beta of 2.11. The company’s 50-day moving average is $17.07 and its 200 day moving average is $19.29. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $29.38.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.20). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. On average, research analysts expect that PENN Entertainment, Inc. will post -1.35 EPS for the current year.

Insiders Place Their Bets

In other news, Director David A. Handler bought 40,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were bought at an average price of $14.94 per share, for a total transaction of $597,600.00. Following the purchase, the director now owns 283,450 shares in the company, valued at $4,234,743. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Felicia Hendrix acquired 16,157 shares of PENN Entertainment stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the transaction, the chief financial officer now directly owns 68,596 shares in the company, valued at approximately $1,061,180.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David A. Handler bought 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average price of $14.94 per share, with a total value of $597,600.00. Following the transaction, the director now owns 283,450 shares of the company’s stock, valued at approximately $4,234,743. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 76,157 shares of company stock worth $1,154,949. Company insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On PENN Entertainment

Institutional investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its holdings in shares of PENN Entertainment by 3.7% in the 3rd quarter. Westside Investment Management Inc. now owns 14,852 shares of the company’s stock valued at $341,000 after acquiring an additional 525 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after purchasing an additional 553 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of PENN Entertainment by 7.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock valued at $252,000 after purchasing an additional 632 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in PENN Entertainment by 8.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,952 shares of the company’s stock valued at $285,000 after buying an additional 826 shares during the period. Finally, Blue Trust Inc. lifted its position in PENN Entertainment by 20.0% in the fourth quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock worth $140,000 after buying an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.