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

PENN Entertainment, Inc. (NASDAQ:PENN) has been given a consensus recommendation of “Hold” by the fifteen analysts that are currently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $24.18.

Several research firms have weighed in on PENN. Needham & Company LLC reissued a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a research report on Wednesday, May 15th. StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a report on Tuesday, April 23rd. Macquarie decreased their price objective on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Finally, Truist Financial upgraded PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, April 23rd.

Insider Activity at PENN Entertainment

In related news, Director David A. Handler acquired 20,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $15.37 per share, with a total value of $307,400.00. Following the completion of the transaction, the director now directly owns 243,450 shares of the company’s stock, valued at approximately $3,741,826.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Felicia Hendrix acquired 16,157 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $15.47 per share, with a total value of $249,948.79. Following the completion of the transaction, the chief financial officer now directly owns 68,596 shares of the company’s stock, valued at approximately $1,061,180.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Handler acquired 20,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the transaction, the director now directly owns 243,450 shares of the company’s stock, valued at $3,741,826.50. The disclosure for this purchase can be found here. 2.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PENN. Vanguard Group Inc. increased its position in shares of PENN Entertainment by 0.4% during the first quarter. Vanguard Group Inc. now owns 14,789,817 shares of the company’s stock worth $269,323,000 after acquiring an additional 59,897 shares during the last quarter. Earnest Partners LLC increased its position in shares of PENN Entertainment by 4.0% during the first quarter. Earnest Partners LLC now owns 3,938,133 shares of the company’s stock worth $71,713,000 after acquiring an additional 151,025 shares during the last quarter. Sei Investments Co. increased its position in shares of PENN Entertainment by 13.1% during the first quarter. Sei Investments Co. now owns 2,372,277 shares of the company’s stock worth $43,199,000 after acquiring an additional 274,074 shares during the last quarter. Invenomic Capital Management LP increased its position in shares of PENN Entertainment by 71.9% during the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock worth $34,313,000 after acquiring an additional 787,968 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of PENN Entertainment during the fourth quarter worth about $42,758,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Stock Performance

PENN Entertainment stock opened at $16.04 on Thursday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $16.89 and a two-hundred day moving average of $20.78. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -2.15 and a beta of 2.06. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $29.38.

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.