PENN Entertainment (NASDAQ:PENN - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Tuesday.
PENN has been the topic of a number of other research reports. Truist Financial cut their target price on PENN Entertainment from $25.00 to $23.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. JMP Securities reiterated a "market perform" rating on shares of PENN Entertainment in a report on Friday, October 4th. Barclays reduced their price target on shares of PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company lifted their target price on PENN Entertainment from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Finally, Macquarie lifted their price target on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $23.53.
Read Our Latest Stock Analysis on PENN
PENN Entertainment Trading Down 3.4 %
NASDAQ PENN traded down $0.67 on Tuesday, reaching $19.16. 3,392,323 shares of the company were exchanged, compared to its average volume of 4,878,114. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The business's fifty day moving average price is $19.99 and its 200 day moving average price is $19.22. The stock has a market capitalization of $2.92 billion, a P/E ratio of -5.40 and a beta of 2.08.
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 for the quarter, topping the consensus estimate 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 company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts forecast that PENN Entertainment will post -1.55 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in PENN. DekaBank Deutsche Girozentrale purchased a new stake in shares of PENN Entertainment during the 3rd quarter worth $45,000. GAMMA Investing LLC increased its position in PENN Entertainment by 88.5% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company's stock worth $51,000 after buying an additional 1,275 shares in the last quarter. Quest Partners LLC acquired a new position in shares of PENN Entertainment in the third quarter worth $56,000. International Assets Investment Management LLC lifted its position in shares of PENN Entertainment by 1,634.8% in the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company's stock valued at $61,000 after acquiring an additional 3,057 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of PENN Entertainment by 76.7% during the second quarter. Quarry LP now owns 4,291 shares of the company's stock valued at $83,000 after acquiring an additional 1,862 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.
PENN Entertainment Company Profile
(
Get Free Report)
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.
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