PENN Entertainment (NASDAQ:PENN) Lifted to “Buy” at Craig Hallum

Craig Hallum upgraded shares of PENN Entertainment (NASDAQ:PENNFree Report) from a hold rating to a buy rating in a report issued on Friday, Marketbeat reports. They currently have $30.00 price target on the stock, up from their previous price target of $20.00.

Several other analysts have also weighed in on the company. JMP Securities restated a market perform rating on shares of PENN Entertainment in a report on Tuesday, June 4th. Raymond James initiated coverage on PENN Entertainment in a report on Tuesday, May 21st. They issued an outperform rating and a $20.00 price objective for the company. Truist Financial upped their price objective on PENN Entertainment from $23.00 to $25.00 and gave the company a buy rating in a report on Friday, June 14th. StockNews.com lowered PENN Entertainment from a hold rating to a sell rating in a report on Wednesday, March 6th. Finally, Wells Fargo & Company cut their price objective on PENN Entertainment from $21.00 to $18.00 and set an equal weight rating for the company in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $25.10.

Get Our Latest Analysis on PENN Entertainment

PENN Entertainment Trading Down 2.5 %

Shares of PENN stock opened at $19.34 on Friday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $29.38. The stock has a fifty day moving average of $16.77 and a two-hundred day moving average of $19.58. The firm has a market capitalization of $2.95 billion, a PE ratio of -2.60 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENNGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. As a group, research analysts expect that PENN Entertainment will post -1.35 EPS for the current year.

Insider Activity at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler purchased 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were purchased at an average cost of $14.94 per share, with a total value of $597,600.00. Following the completion of the transaction, the director now owns 283,450 shares of the company’s stock, valued at $4,234,743. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director David A. Handler bought 40,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were bought at an average cost of $14.94 per share, with a total value of $597,600.00. Following the transaction, the director now directly owns 283,450 shares in the company, valued at approximately $4,234,743. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Felicia Hendrix acquired 16,157 shares of the stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the acquisition, the chief financial officer now owns 68,596 shares in the company, valued at approximately $1,061,180.12. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 76,157 shares of company stock valued at $1,154,949. Company insiders own 2.19% of the company’s stock.

Institutional Trading of PENN Entertainment

A number of hedge funds have recently modified their holdings of PENN. Tyler Stone Wealth Management raised its holdings in shares of PENN Entertainment by 34.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock worth $45,000 after buying an additional 500 shares in the last quarter. Westside Investment Management Inc. increased its holdings in PENN Entertainment by 3.7% during the 3rd quarter. Westside Investment Management Inc. now owns 14,852 shares of the company’s stock valued at $341,000 after purchasing an additional 525 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after buying an additional 553 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of PENN Entertainment by 7.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock valued at $252,000 after buying an additional 632 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of PENN Entertainment by 8.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,952 shares of the company’s stock valued at $285,000 after buying an additional 826 shares during the period. Institutional investors own 91.69% of the company’s stock.

About PENN Entertainment

(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.

Further Reading

Analyst Recommendations for PENN Entertainment (NASDAQ:PENN)

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