PENN Entertainment, Inc. (NASDAQ:PENN) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) have received an average recommendation of "Moderate Buy" from the sixteen brokerages that are presently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $23.29.

A number of equities research analysts have issued reports on the stock. Bank of America assumed coverage on shares of PENN Entertainment in a report on Wednesday, November 13th. They issued a "neutral" rating and a $22.00 price target on the stock. JMP Securities reiterated a "market perform" rating on shares of PENN Entertainment in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a "hold" rating in a report on Friday, August 9th. Stifel Nicolaus lifted their price objective on PENN Entertainment from $19.00 to $20.00 and gave the stock a "hold" rating in a report on Friday, August 9th. Finally, Craig Hallum reissued a "buy" rating and set a $30.00 price target on shares of PENN Entertainment in a report on Tuesday, October 8th.

Insider Activity at PENN Entertainment

In related news, Director David A. Handler purchased 10,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $17.51 per share, with a total value of $175,100.00. Following the completion of the acquisition, the director now directly owns 293,450 shares in the company, valued at $5,138,309.50. The trade was a 3.53 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jay A. Snowden acquired 54,200 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $18.44 per share, with a total value of $999,448.00. Following the transaction, the chief executive officer now owns 853,045 shares of the company's stock, valued at approximately $15,730,149.80. The trade was a 6.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 79,200 shares of company stock valued at $1,450,548 over the last quarter. 2.19% of the stock is owned by insiders.

Institutional Investors Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in PENN. GAMMA Investing LLC raised its position in shares of PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock valued at $28,000 after acquiring an additional 1,009 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of PENN Entertainment during the third quarter valued at about $45,000. Quest Partners LLC acquired a new stake in shares of PENN Entertainment in the 3rd quarter worth approximately $56,000. International Assets Investment Management LLC boosted its stake in PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company's stock valued at $61,000 after purchasing an additional 3,057 shares in the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in PENN Entertainment during the second quarter worth about $83,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Stock Performance

PENN traded up $0.75 during trading hours on Monday, hitting $22.34. The stock had a trading volume of 3,407,858 shares, compared to its average volume of 4,940,273. The company's fifty day simple moving average is $19.60 and its 200 day simple moving average is $18.84. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $27.20. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a market cap of $3.41 billion, a PE ratio of -6.29 and a beta of 2.09.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The firm's quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts anticipate that PENN Entertainment will post -1.53 earnings per share 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.