Analysts Set PENN Entertainment, Inc. (NASDAQ:PENN) Price Target at $21.13

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given an average rating of “Hold” by the eighteen research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $20.50.

PENN has been the topic of several analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $17.00 target price on shares of PENN Entertainment in a research report on Wednesday, December 24th. Citizens Jmp lowered their price target on PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating on the stock in a report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Monday, December 29th. Canaccord Genuity Group reduced their price objective on shares of PENN Entertainment from $26.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Morgan Stanley lowered their target price on shares of PENN Entertainment from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, January 16th.

PENN Entertainment Stock Up 8.2%

PENN stock opened at $13.41 on Friday. The stock has a market cap of $1.79 billion, a PE ratio of -2.11, a price-to-earnings-growth ratio of 0.41 and a beta of 1.39. The firm’s 50-day simple moving average is $14.13 and its 200 day simple moving average is $16.45. PENN Entertainment has a fifty-two week low of $12.19 and a fifty-two week high of $23.08. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 3.65.

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

Insider Activity

In other PENN Entertainment news, Director Gupta Vimla Black sold 7,987 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $14.51, for a total transaction of $115,891.37. Following the completion of the transaction, the director directly owned 25,000 shares of the company’s stock, valued at approximately $362,750. This trade represents a 24.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Felicia Hendrix acquired 7,315 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was purchased at an average cost of $13.79 per share, for a total transaction of $100,873.85. Following the purchase, the chief financial officer directly owned 119,448 shares in the company, valued at approximately $1,647,187.92. This represents a 6.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. IFP Advisors Inc lifted its holdings in PENN Entertainment by 76.2% in the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after acquiring an additional 1,196 shares during the last quarter. Triumph Capital Management bought a new stake in shares of PENN Entertainment in the 3rd quarter worth approximately $54,000. Cloud Capital Management LLC bought a new stake in shares of PENN Entertainment in the 3rd quarter worth approximately $54,000. GAMMA Investing LLC lifted its stake in PENN Entertainment by 22.4% during the third quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock valued at $59,000 after purchasing an additional 556 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in PENN Entertainment by 33.7% during the third quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock worth $65,000 after buying an additional 825 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.