PENN Entertainment (NASDAQ:PENN) Stock Rating Reaffirmed by Benchmark

Benchmark reissued their hold rating on shares of PENN Entertainment (NASDAQ:PENN) in a research report sent to investors on Friday morning, Benzinga reports.

A number of other analysts also recently issued reports on PENN. StockNews.com downgraded PENN Entertainment from a hold rating to a sell rating in a research report on Wednesday, March 6th. Canaccord Genuity Group reduced their target price on PENN Entertainment from $32.00 to $28.00 and set a buy rating on the stock in a research note on Monday, April 29th. Needham & Company LLC reiterated a buy rating and issued a $32.00 target price on shares of PENN Entertainment in a research note on Thursday. Macquarie reduced their target price on PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a research note on Friday, February 16th. Finally, JMP Securities reiterated a market perform rating on shares of PENN Entertainment in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $25.92.

PENN Entertainment Price Performance

Shares of NASDAQ PENN traded down $0.23 during midday trading on Friday, reaching $14.90. 359,927 shares of the stock traded hands, compared to its average volume of 5,856,076. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $2.27 billion, a PE ratio of -2.03 and a beta of 2.06. PENN Entertainment has a one year low of $13.50 and a one year high of $29.38. The company’s 50 day moving average is $17.44 and its 200 day moving average is $21.17.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. On average, equities research analysts anticipate that PENN Entertainment will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Kettle Hill Capital Management LLC purchased a new position in PENN Entertainment during the third quarter valued at approximately $19,792,000. Source Financial Advisors LLC raised its position in PENN Entertainment by 1,061.1% during the third quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock valued at $7,404,000 after acquiring an additional 294,845 shares in the last quarter. Fred Alger Management LLC purchased a new position in PENN Entertainment during the third quarter valued at approximately $1,750,000. Sei Investments Co. raised its stake in shares of PENN Entertainment by 13.9% during the 3rd quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock worth $31,510,000 after buying an additional 167,445 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of PENN Entertainment by 20.0% during the 4th quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock worth $140,000 after buying an additional 896 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

About PENN Entertainment

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.