PENN Entertainment, Inc. (NASDAQ:PENN) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have earned an average rating of “Hold” from the eighteen analysts that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $21.25.

A number of brokerages recently weighed in on PENN. Citigroup restated a “market outperform” rating on shares of PENN Entertainment in a research report on Monday, December 1st. Wells Fargo & Company assumed coverage on PENN Entertainment in a report on Tuesday, November 18th. They set an “underweight” rating and a $15.00 price target on the stock. Stifel Nicolaus upgraded PENN Entertainment from a “hold” rating to a “buy” rating and raised their price target for the stock from $19.00 to $21.00 in a research note on Friday, November 7th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $17.00 price objective on shares of PENN Entertainment in a report on Wednesday, December 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on PENN Entertainment from $19.00 to $17.00 and set a “hold” rating for the company in a research report on Friday, November 7th.

PENN Entertainment Price Performance

NASDAQ PENN opened at $14.43 on Tuesday. PENN Entertainment has a one year low of $13.24 and a one year high of $23.08. The stock has a 50-day moving average of $14.59 and a 200 day moving average of $17.07. The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -2.27, a PEG ratio of 0.46 and a beta of 1.34.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.12). PENN Entertainment had a negative net margin of 13.24% and a negative return on equity of 4.59%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company posted ($0.24) EPS. PENN Entertainment’s revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts forecast that PENN Entertainment will post -1.61 EPS for the current year.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden bought 34,700 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $14.32 per share, for a total transaction of $496,904.00. Following the completion of the transaction, the chief executive officer owned 1,117,325 shares of the company’s stock, valued at $16,000,094. This represents a 3.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Felicia Hendrix purchased 7,315 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was acquired at an average price of $13.79 per share, for a total transaction of $100,873.85. Following the completion of the transaction, the chief financial officer directly owned 119,448 shares of the company’s stock, valued at approximately $1,647,187.92. This trade represents a 6.52% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 62,015 shares of company stock worth $882,778 over the last 90 days. 2.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On PENN Entertainment

A number of hedge funds have recently modified their holdings of PENN. Parallel Advisors LLC raised its holdings in PENN Entertainment by 152.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,397 shares of the company’s stock worth $25,000 after purchasing an additional 843 shares during the period. Quarry LP purchased a new stake in PENN Entertainment in the first quarter worth about $30,000. State of Wyoming purchased a new stake in PENN Entertainment in the first quarter worth about $46,000. Cloud Capital Management LLC bought a new position in shares of PENN Entertainment in the third quarter worth about $54,000. Finally, Triumph Capital Management purchased a new position in shares of PENN Entertainment during the 3rd quarter valued at about $54,000. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Company Profile

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.