PENN Entertainment, Inc. (NASDAQ:PENN) Receives $21.25 Average Target Price from Analysts

PENN Entertainment, Inc. (NASDAQ:PENN) has earned a consensus rating of “Hold” from the eighteen research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $21.25.

A number of equities analysts have commented on PENN shares. Jefferies Financial Group restated a “hold” rating and issued a $17.00 target price on shares of PENN Entertainment in a research note on Wednesday, December 24th. Needham & Company LLC reissued a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 7th. Deutsche Bank Aktiengesellschaft decreased their target price 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. Stifel Nicolaus upgraded PENN Entertainment from a “hold” rating to a “buy” rating and upped their target price for the stock from $19.00 to $21.00 in a report on Friday, November 7th. Finally, Citizens Jmp dropped their price target on PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research report on Friday, November 7th.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler acquired 20,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were purchased at an average cost of $14.25 per share, for a total transaction of $285,000.00. Following the completion of the purchase, the director owned 362,941 shares in the company, valued at approximately $5,171,909.25. This trade represents a 5.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Felicia Hendrix acquired 7,315 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average cost of $13.79 per share, for a total transaction of $100,873.85. Following the completion of the acquisition, the chief financial officer owned 119,448 shares of the company’s stock, valued at $1,647,187.92. This trade represents a 6.52% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 62,015 shares of company stock valued at $882,778 in the last 90 days. Insiders own 2.67% of the company’s stock.

Institutional Trading of PENN Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming bought a new position in shares of PENN Entertainment in the 1st quarter worth $46,000. Quarry LP bought a new position in PENN Entertainment in the first quarter worth about $30,000. Caxton Associates LLP purchased a new stake in shares of PENN Entertainment during the first quarter valued at about $246,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of PENN Entertainment by 30.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 344,565 shares of the company’s stock valued at $5,620,000 after buying an additional 79,978 shares during the last quarter. Finally, SCS Capital Management LLC purchased a new position in shares of PENN Entertainment in the 1st quarter worth approximately $200,000. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

PENN stock opened at $14.43 on Tuesday. PENN Entertainment has a twelve month low of $13.24 and a twelve month high of $23.08. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -2.27, a PEG ratio of 0.45 and a beta of 1.34. The business’s fifty day simple moving average is $14.63 and its two-hundred day simple moving average is $17.09. 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 quarterly earnings results on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). The company 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%.The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.24) earnings per share. Analysts predict that PENN Entertainment will post -1.61 earnings per share for the current year.

About PENN Entertainment

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.