Entertainment

PENN Entertainment, Inc. (NASDAQ:PENN) receives an average rating of Moderate Buy from analysts.

PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) has an average recommendation of “Moderate Buy” from the seventeen brokers currently covering the company, reports MarketBeat. Five investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation for the company. The average 1-year target price set by analysts who updated their coverage of the stock over the past year is $40.13.

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Several research analysts have issued reports on the stock. Needham & Company LLC decreased its price target on PENN Entertainment shares to $50.00 from $60.00 and ranked a buy rating on the stock in a research report on Friday, February 3. Truist Financial raised its target price on PENN Entertainment shares to $40.00 from $36.00 and gave the company a “buy” rating in a report on Friday, February 3. Jefferies Financial Group downgraded shares of PENN Entertainment from a “buy” rating to a “hold” rating and lowered its price target on the company to 34 from $50.00 in a report Monday, January 9 $.00. Morgan Stanley lowered its price target on shares of PENN Entertainment from $34.00 to $31.00 and rated the stock in a report dated Wednesday, February 1. Finally, Credit Suisse Group lowered, in a report dated Friday, February 3, their target price for shares of PENN Entertainment from $50.00 to $46.00 and gave the stock an Outperform rating.

Insider Activities at PENN Entertainment

In other news from PENN Entertainment, director Saul Reibstein sold 39,457 shares of PENN Entertainment in a transaction on Monday February 6th. The shares were sold at an average price of $33.39 for a total transaction of $1,317,469.23. Upon completion of the transaction, the Director now owns 37,055 shares of the Company, valued at $1,237,266.45. The sale was disclosed in a document filed with the SEC, which can be accessed at this hyperlink. In other news from PENN Entertainment, CEO Jay A. Snowden sold 163,475 shares of PENN Entertainment in a transaction on Tuesday, December 27th. The shares were sold at an average price of $30.12 for a total transaction of $4,923,867.00. Upon completion of the transaction, the Chief Executive Officer now owns 604,527 shares of the Company, valued at $18,208,353.24. The sale was disclosed in a document filed with the SEC, which can be accessed at this hyperlink. In addition, director Saul Reibstein sold 39,457 shares of PENN Entertainment in a transaction on Monday, February 6th. The stock sold at an average price of $33.39 for a total transaction of $1,317,469.23. Following the transaction, the Director now owns 37,055 shares of the Company, valued at approximately $1,237,266.45. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Hedge funds rely on PENN Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Occudo Quantitative Strategies LP increased its position in PENN Entertainment shares by 260.7% during the second quarter. Occudo Quantitative Strategies LP now owns 45,163 shares of the company’s stock valued at $1,374,000 after purchasing an additional 32,641 shares last quarter. Point72 Hong Kong Ltd acquired a new position in PENN Entertainment stock valued at approximately $309,000 during the second quarter. Envestnet Asset Management Inc. increased its position in shares of PENN Entertainment by 22.2% in the third quarter. Envestnet Asset Management Inc. now owns 100,873 shares of the company’s stock valued at $2,775,000 after purchasing an additional 18,296 shares last quarter. Commerce Bank acquired a new position in shares of PENN Entertainment worth about $338,000 during the second quarter. Finally, Boothbay Fund Management LLC acquired a new interest in PENN Entertainment during the third quarter for approximately $333,000. Institutional investors and hedge funds own 84.40% of the company’s shares.

Price history of PENN Entertainment

NASDAQ:PENN shares opened at $27.48 on Friday. The company’s 50-day moving average price is $31.65 and its 200-day moving average price is $31.69. PENN Entertainment has a 12-month low of $25.49 and a 12-month high of $45.41. The company has a gearing ratio of 1.87, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market cap of $4.19 billion, a P/E of 21.30, a P/E of 1.03, and a beta of 2.22.

PENN Entertainment (NASDAQ:PENN – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported earnings per share (EPS) of $0.13 for the quarter, beating the consensus estimate of $0.33 ($0.20). PENN Entertainment had a return on equity of 5.98% and a net margin of 3.47%. The company made $1.59 billion in revenue for the quarter, compared to analysts’ expectations of $1.58 billion. In the same period last year, the company reported earnings per share of $0.26. The company’s revenue for the quarter rose 0.8% year over year. As a group, sell-side analysts are forecasting that PENN Entertainment will report earnings per share of 1.44 for the current fiscal year.

Company Profile of PENN Entertainment (Get Rating)

PENN Entertainment, Inc owns and manages gaming and racing facilities and video game terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest, Interactive and Other. The Northeast segment consists of properties such as the Ameristar East Chicago, the Greektown Casino-Hotel and the Hollywood Casino Bangor.

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