PENN Entertainment (NASDAQ:PENN) Shares Down 7% – Should You Sell?

PENN Entertainment, Inc. (NASDAQ:PENN) traded down 7% on Friday. The stock traded as low as $14.45 and last traded at $14.3750. Approximately 2,590,390 shares changed hands during trading, a decline of 30% from the average session volume of 3,698,020 shares. The stock had previously closed at $15.46.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Susquehanna reduced their price objective on PENN Entertainment from $30.00 to $26.00 and set a “positive” rating on the stock in a research report on Monday, October 19th. Deutsche Bank Aktiengesellschaft raised PENN Entertainment from a “hold” rating to a “buy” rating and lifted their price target for the company from $23.00 to $25.00 in a research note on Tuesday, October 6th. Piper Sandler raised PENN Entertainment from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, October 13th. Capital One Financial upgraded PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on PENN Entertainment from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.61.

PENN Entertainment Trading Down 6.2%

The company has a debt-to-equity ratio of 3.79, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s fifty day simple moving average is $16.39 and its 200-day simple moving average is $18.04. The stock has a market cap of $1.94 billion, a P/E ratio of -2.28, a price-to-earnings-growth ratio of 0.37 and a beta of 1.39.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.07. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm posted ($0.12) EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that PENN Entertainment, Inc. will post 1.20 EPS for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Several large investors have recently added to or reduced their stakes in the business. Nykredit A S purchased a new stake in PENN Entertainment in the 2nd quarter valued at $25,000. Versant Capital Management Inc lifted its stake in PENN Entertainment by 29.6% during the 3rd quarter. Versant Capital Management Inc now owns 3,513 shares of the company’s stock valued at $51,000 after acquiring an additional 803 shares in the last quarter. IFP Advisors Inc boosted its holdings in PENN Entertainment by 103.1% during the 3rd quarter. IFP Advisors Inc now owns 3,920 shares of the company’s stock worth $57,000 after acquiring an additional 1,990 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in PENN Entertainment during the 2nd quarter worth $66,000. Finally, GAMMA Investing LLC boosted its holdings in PENN Entertainment by 19.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock worth $118,000 after acquiring an additional 895 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

About PENN Entertainment

PENN Entertainment, Inc is a North American provider of integrated entertainment, gaming and sports betting. The company operates casinos, racetracks and video gaming terminals, offering slot machines, table games, poker, sports wagering, hotel accommodations, restaurants, entertainment venues and other amenities.

PENN’s portfolio includes regional gaming properties operating under brands such as Hollywood Casino, Ameristar, L’Auberge and M Resort. Its land-based operations serve customers across numerous U.S.