Deutsche Bank Aktiengesellschaft Cuts PENN Entertainment (NASDAQ:PENN) Price Target to $17.00

PENN Entertainment (NASDAQ:PENN) had its target price reduced by Deutsche Bank Aktiengesellschaft from $19.00 to $17.00 in a report published on Friday morning,MarketScreener reports. They currently have a hold rating on the stock.

PENN has been the topic of a number of other reports. Morgan Stanley reaffirmed a “sell” rating on shares of PENN Entertainment in a research note on Friday, July 11th. Needham & Company LLC reissued a “hold” rating on shares of PENN Entertainment in a report on Friday. Citigroup reissued an “outperform” rating on shares of PENN Entertainment in a research note on Friday, August 8th. Barclays cut their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Finally, JMP Securities upped their price target on PENN Entertainment from $24.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, August 8th. Ten investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, PENN Entertainment currently has an average rating of “Hold” and a consensus price target of $22.56.

PENN Entertainment Stock Up 7.3%

PENN Entertainment stock traded up $1.06 during midday trading on Friday, reaching $15.60. The stock had a trading volume of 4,817,936 shares, compared to its average volume of 4,092,709. The company has a fifty day moving average price of $18.22 and a two-hundred day moving average price of $17.51. The company has a market capitalization of $2.28 billion, a P/E ratio of -27.86 and a beta of 1.53. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39. PENN Entertainment has a 12 month low of $13.25 and a 12 month high of $23.08.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.12). PENN Entertainment had a negative net margin of 1.12% and a negative return on equity of 4.36%. The firm 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 firm earned ($0.24) EPS. The company’s revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts expect that PENN Entertainment will post -1.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jay A. Snowden acquired 34,700 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $14.32 per share, for a total transaction of $496,904.00. Following the purchase, the chief executive officer owned 1,117,325 shares of the company’s stock, valued at approximately $16,000,094. The trade was a 3.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.67% of the company’s stock.

Institutional Trading of PENN Entertainment

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC boosted 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 buying an additional 843 shares during the period. Quarry LP purchased a new stake in shares of PENN Entertainment during the first quarter worth $30,000. GAMMA Investing LLC boosted its holdings in shares of PENN Entertainment by 38.7% in the first quarter. GAMMA Investing LLC now owns 2,636 shares of the company’s stock worth $43,000 after acquiring an additional 736 shares during the period. State of Wyoming bought a new position in shares of PENN Entertainment in the first quarter worth $46,000. Finally, Cloud Capital Management LLC purchased a new position in shares of PENN Entertainment in the third quarter valued at $54,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.