PENN Entertainment (NASDAQ:PENN) Stock Rating Lowered by StockNews.com

PENN Entertainment (NASDAQ:PENN) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Several other analysts also recently issued reports on the company. Susquehanna reduced their price target on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research note on Monday, November 4th. Mizuho cut their price objective on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a report on Friday, November 8th. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $19.00 to $27.00 in a research note on Friday, December 13th. Finally, Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $23.44.

PENN Entertainment Trading Down 2.2 %

Shares of PENN Entertainment stock opened at $20.02 on Friday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The business has a fifty day simple moving average of $19.94 and a two-hundred day simple moving average of $19.36. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $24.57. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -5.64, a P/E/G ratio of 1.27 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. PENN Entertainment’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 EPS. Research analysts forecast that PENN Entertainment will post -1.54 EPS for the current year.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors have recently modified their holdings of PENN. Driehaus Capital Management LLC bought a new position in shares of PENN Entertainment in the second quarter valued at $4,535,000. Janus Henderson Group PLC increased its holdings in PENN Entertainment by 244.7% during the third quarter. Janus Henderson Group PLC now owns 249,106 shares of the company’s stock worth $4,697,000 after buying an additional 176,844 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of PENN Entertainment by 84.7% in the 3rd quarter. Quantbot Technologies LP now owns 208,094 shares of the company’s stock worth $3,925,000 after purchasing an additional 95,423 shares during the period. Verition Fund Management LLC grew its holdings in PENN Entertainment by 367.2% during the third quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock valued at $8,543,000 after purchasing an additional 356,029 shares during the period. Finally, Public Sector Pension Investment Board purchased a new stake in PENN Entertainment in the second quarter worth $6,363,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.