PENN Entertainment (NASDAQ:PENN) Shares Gap Up - What's Next?

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $20.01, but opened at $21.72. PENN Entertainment shares last traded at $20.95, with a volume of 959,601 shares changing hands.

Wall Street Analyst Weigh In

PENN has been the topic of a number of research analyst reports. Mizuho decreased their price target on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 22nd. Needham & Company LLC restated a "buy" rating and set a $26.00 target price on shares of PENN Entertainment in a report on Friday, November 8th. Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a report on Friday, November 8th. JPMorgan Chase & Co. raised shares of PENN Entertainment from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $19.00 to $27.00 in a report on Friday. Finally, Barclays dropped their target price on shares of PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, PENN Entertainment currently has a consensus rating of "Hold" and a consensus target price of $23.53.

PENN Entertainment Price Performance

The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -5.86 and a beta of 2.08. The company has a 50-day moving average price of $19.97 and a 200-day moving average price of $19.13. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.04. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 earnings per share. On average, equities research analysts expect that PENN Entertainment, Inc. will post -1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

A number of hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale bought a new stake in PENN Entertainment during the 3rd quarter worth approximately $45,000. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 1,275 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of PENN Entertainment during the third quarter worth $56,000. International Assets Investment Management LLC lifted its position in PENN Entertainment by 1,634.8% in the 3rd 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 PENN Entertainment by 76.7% in the 2nd quarter. Quarry LP now owns 4,291 shares of the company's stock worth $83,000 after purchasing an additional 1,862 shares during the period. Institutional investors and hedge funds own 91.69% of the company's stock.

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.