Susquehanna Has Lowered Expectations for PENN Entertainment (NASDAQ:PENN) Stock Price

PENN Entertainment (NASDAQ:PENN - Free Report) had its price target cut by Susquehanna from $26.00 to $25.00 in a research note published on Monday, Benzinga reports. They currently have a positive rating on the stock.

Other analysts also recently issued research reports about the stock. Barclays cut their price target on shares of PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, October 17th. Truist Financial cut their price target on shares of PENN Entertainment from $25.00 to $23.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. JMP Securities reaffirmed a "market perform" rating on shares of PENN Entertainment in a report on Friday, October 4th. Needham & Company LLC reissued a "buy" rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company increased their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.89.

PENN Entertainment Stock Performance

PENN traded down $0.39 on Monday, reaching $19.06. The company had a trading volume of 1,816,351 shares, compared to its average volume of 5,147,082. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The stock has a market cap of $2.91 billion, a P/E ratio of -2.35 and a beta of 2.09. The company's fifty day moving average is $18.96 and its 200 day moving average is $18.28. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03.

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. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business's revenue was down .7% compared to the same quarter last year. As a group, analysts predict that PENN Entertainment will post -1.36 earnings per share for the current fiscal year.

Insider Buying and Selling at PENN Entertainment

In other news, CEO Jay A. Snowden acquired 54,200 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the transaction, the chief executive officer now directly owns 853,045 shares in the company, valued at $15,730,149.80. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Anuj Dhanda purchased 15,000 shares of PENN Entertainment stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the acquisition, the director now owns 31,523 shares of the company's stock, valued at $580,023.20. This trade represents 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, CEO Jay A. Snowden purchased 54,200 shares of PENN Entertainment stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the acquisition, the chief executive officer now directly owns 853,045 shares of the company's stock, valued at approximately $15,730,149.80. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 79,200 shares of company stock worth $1,450,548. 2.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PENN Entertainment

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in PENN Entertainment by 0.4% in the first quarter. Vanguard Group Inc. now owns 14,789,817 shares of the company's stock worth $269,323,000 after purchasing an additional 59,897 shares during the period. DME Capital Management LP lifted its position in shares of PENN Entertainment by 11.9% during the second quarter. DME Capital Management LP now owns 5,095,340 shares of the company's stock valued at $98,620,000 after purchasing an additional 540,630 shares in the last quarter. Earnest Partners LLC raised its position in PENN Entertainment by 4.6% in the second quarter. Earnest Partners LLC now owns 4,117,946 shares of the company's stock worth $79,703,000 after acquiring an additional 179,813 shares during the period. Armistice Capital LLC raised its position in PENN Entertainment by 91.9% in the second quarter. Armistice Capital LLC now owns 2,643,060 shares of the company's stock worth $51,156,000 after acquiring an additional 1,266,023 shares during the period. Finally, Sei Investments Co. increased its stake in shares of PENN Entertainment by 3.7% in the second quarter. Sei Investments Co. now owns 2,461,074 shares of the company's stock worth $47,634,000 after purchasing an additional 88,797 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Company Profile

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.