PENN Entertainment, Inc. (NASDAQ:PENN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $25.03.

A number of research analysts have commented on PENN shares. Morgan Stanley raised their target price on shares of PENN Entertainment from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Susquehanna reissued a “positive” rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Friday, June 21st. Craig Hallum raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and raised their target price for the company from $20.00 to $30.00 in a research report on Friday, June 21st. Bank of America cut shares of PENN Entertainment from a “buy” rating to a “neutral” rating and lowered their price target for the company from $28.00 to $17.50 in a report on Monday, May 13th. Finally, Canaccord Genuity Group cut their price objective on shares of PENN Entertainment from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, April 29th.

PENN Entertainment Trading Down 5.5 %

NASDAQ PENN opened at $17.87 on Tuesday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of -2.40 and a beta of 2.11. The company’s 50-day simple moving average is $18.47 and its two-hundred day simple moving average is $18.46. PENN Entertainment has a one year low of $13.50 and a one year high of $29.38.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, May 2nd. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. Equities analysts forecast that PENN Entertainment will post -1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director David A. Handler acquired 20,000 shares of PENN Entertainment stock in a transaction dated Monday, May 6th. The stock was purchased at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the purchase, the director now directly owns 243,450 shares in the company, valued at approximately $3,741,826.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Felicia Hendrix acquired 16,157 shares of PENN Entertainment stock in a transaction dated Monday, May 6th. The stock was purchased at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the purchase, 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 the SEC website. Also, Director David A. Handler acquired 20,000 shares of PENN Entertainment stock in a transaction dated Monday, May 6th. The stock was purchased at an average price of $15.37 per share, with a total value of $307,400.00. Following the completion of the purchase, the director now owns 243,450 shares of the company’s stock, valued at $3,741,826.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 76,157 shares of company stock valued at $1,154,949. 2.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PENN. Norges Bank purchased a new position in PENN Entertainment during the fourth quarter valued at approximately $42,758,000. ING Groep NV purchased a new position in PENN Entertainment during the fourth quarter valued at approximately $32,556,000. Invenomic Capital Management LP raised its position in PENN Entertainment by 71.9% during the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock valued at $34,313,000 after acquiring an additional 787,968 shares in the last quarter. Sei Investments Co. raised its position in PENN Entertainment by 52.8% during the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after acquiring an additional 725,221 shares in the last quarter. Finally, National Bank of Canada FI raised its position in PENN Entertainment by 284.6% during the first quarter. National Bank of Canada FI now owns 968,514 shares of the company’s stock valued at $17,637,000 after acquiring an additional 716,686 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.