PENN Entertainment (NASDAQ:PENN) Upgraded by StockNews.com to Hold Rating

PENN Entertainment (NASDAQ:PENN) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

PENN has been the subject of a number of other reports. Mizuho lowered their price target 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. Wells Fargo & Company raised their target price on PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th. JPMorgan Chase & Co. raised PENN Entertainment from a “neutral” rating to an “overweight” rating and increased their price target for the company from $19.00 to $27.00 in a report on Friday. Finally, Morgan Stanley dropped their price objective on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 22nd. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PENN Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.53.

PENN Entertainment Trading Down 3.4 %

PENN Entertainment stock traded down $0.67 during midday trading on Tuesday, reaching $19.16. The stock had a trading volume of 3,392,323 shares, compared to its average volume of 4,878,114. The stock’s 50-day simple moving average is $19.99 and its 200 day simple moving average is $19.22. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $27.20. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $2.92 billion, a PE ratio of -5.40 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Analysts expect that PENN Entertainment will post -1.55 EPS for the current year.

Institutional Trading of PENN Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in PENN. DekaBank Deutsche Girozentrale acquired a new position in PENN Entertainment during the 3rd quarter valued at approximately $45,000. GAMMA Investing LLC lifted its stake in PENN Entertainment by 88.5% in the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock valued at $51,000 after buying an additional 1,275 shares during the last quarter. Quest Partners LLC bought a new position in shares of PENN Entertainment during the third quarter worth about $56,000. International Assets Investment Management LLC increased its holdings in shares of PENN Entertainment by 1,634.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after acquiring an additional 3,057 shares during the period. Finally, Quarry LP lifted its position in PENN Entertainment by 76.7% in the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after purchasing an additional 1,862 shares during the last quarter. 91.69% of the stock is currently 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.