PENN Entertainment (NASDAQ:PENN) Price Target Raised to $20.00

PENN Entertainment (NASDAQ:PENN - Free Report) had its price objective raised by Wells Fargo & Company from $18.00 to $20.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other research analysts have also issued reports about the company. Barclays dropped their price target on PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday. Craig Hallum reissued a "buy" rating and set a $30.00 price target on shares of PENN Entertainment in a research report on Tuesday, October 8th. Morgan Stanley dropped their price target on PENN Entertainment from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 4th. JMP Securities reissued a "market perform" rating on shares of PENN Entertainment in a research report on Friday, October 4th. Finally, Needham & Company LLC reissued a "buy" rating and set a $26.00 price target on shares of PENN Entertainment in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment currently has a consensus rating of "Hold" and an average price target of $23.75.

PENN Entertainment Trading Up 0.2 %

Shares of PENN Entertainment stock traded up $0.04 on Thursday, reaching $18.78. 2,030,365 shares of the company were exchanged, compared to its average volume of 5,304,756. The stock has a fifty day moving average price of $18.90 and a 200-day moving average price of $18.06. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -2.49 and a beta of 2.10. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $27.20.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. PENN Entertainment's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. On average, analysts expect that PENN Entertainment will post -1.32 EPS for the current year.

Insider Activity

In related news, CEO Jay A. Snowden acquired 54,200 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $18.44 per share, with a total value of $999,448.00. Following the acquisition, the chief executive officer now owns 853,045 shares in the company, valued at approximately $15,730,149.80. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Jay A. Snowden acquired 54,200 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $18.44 per share, with a total value of $999,448.00. Following the acquisition, the chief executive officer now owns 853,045 shares in the company, valued at approximately $15,730,149.80. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Handler bought 10,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the acquisition, the director now directly owns 293,450 shares in the company, valued at approximately $5,138,309.50. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 79,200 shares of company stock valued at $1,450,548. Insiders own 2.19% of the company's stock.

Institutional Trading of PENN Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC acquired a new stake in shares of PENN Entertainment during the 2nd quarter worth approximately $4,535,000. Vanguard Group Inc. grew its holdings in shares of PENN Entertainment by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company's stock worth $383,273,000 after purchasing an additional 97,945 shares in the last quarter. Capstone Investment Advisors LLC grew its holdings in shares of PENN Entertainment by 281.4% during the 1st quarter. Capstone Investment Advisors LLC now owns 59,049 shares of the company's stock worth $1,075,000 after purchasing an additional 43,566 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of PENN Entertainment during the 1st quarter worth approximately $1,098,000. Finally, Cetera Advisors LLC grew its holdings in shares of PENN Entertainment by 184.3% during the 1st quarter. Cetera Advisors LLC now owns 60,708 shares of the company's stock worth $1,105,000 after purchasing an additional 39,356 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

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.