PENN Entertainment, Inc. (NASDAQ:PENN) Receives $22.89 Consensus Price Target from Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the sixteen analysts that are covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $22.89.

PENN has been the topic of several analyst reports. Craig Hallum reaffirmed a "buy" rating and issued a $30.00 target price on shares of PENN Entertainment in a report on Tuesday, October 8th. Truist Financial cut their target price on PENN Entertainment from $25.00 to $23.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on PENN Entertainment from $19.00 to $20.00 and gave the company a "hold" rating in a research note on Friday, August 9th. Mizuho reduced their target price on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Tuesday, October 22nd. Finally, Morgan Stanley lowered their price target on shares of PENN Entertainment from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 22nd.

Insider Activity at PENN Entertainment

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its stake in PENN Entertainment by 4,624.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company's stock worth $28,183,000 after acquiring an additional 1,425,274 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in PENN Entertainment by 1,051.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company's stock worth $26,809,000 after purchasing an additional 1,297,976 shares during the period. Armistice Capital LLC increased its holdings in PENN Entertainment by 91.9% in the 2nd quarter. Armistice Capital LLC now owns 2,643,060 shares of the company's stock valued at $51,156,000 after purchasing an additional 1,266,023 shares in the last quarter. Invenomic Capital Management LP raised its position in PENN Entertainment by 71.9% in the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company's stock valued at $34,313,000 after purchasing an additional 787,968 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of PENN Entertainment by 284.6% during the first quarter. National Bank of Canada FI now owns 968,514 shares of the company's stock worth $17,637,000 after purchasing an additional 716,686 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Stock Performance

Shares of NASDAQ:PENN traded up $0.99 on Thursday, reaching $20.22. The company's stock had a trading volume of 5,098,900 shares, compared to its average volume of 5,128,625. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $27.20. The stock has a market capitalization of $3.09 billion, a P/E ratio of -2.49 and a beta of 2.09. The stock's 50-day moving average is $18.98 and its two-hundred day moving average is $18.31. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.09. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The company's revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company earned $0.48 earnings per share. As a group, sell-side analysts forecast that PENN Entertainment will post -1.36 EPS for the current year.

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.