PENN Entertainment (NASDAQ:PENN) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of PENN Entertainment (NASDAQ:PENN) in a research note released on Wednesday, Benzinga reports. The brokerage currently has a $26.00 price target on the stock.

Other equities research analysts also recently issued research reports about the stock. Macquarie reduced their price target on shares of PENN Entertainment from $35.00 to $33.00 and set an outperform rating for the company in a research report on Friday, February 16th. Bank of America lowered PENN Entertainment from a buy rating to a neutral rating and reduced their target price for the company from $28.00 to $17.50 in a report on Monday. Mizuho lifted their price target on PENN Entertainment from $29.00 to $32.00 and gave the company a buy rating in a report on Friday, May 3rd. JMP Securities reiterated a market perform rating on shares of PENN Entertainment in a report on Tuesday, April 23rd. Finally, Craig Hallum decreased their price target on shares of PENN Entertainment from $25.00 to $20.00 and set a hold rating for the company in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $24.50.

PENN Entertainment Trading Down 1.0 %

Shares of PENN Entertainment stock traded down $0.16 on Wednesday, reaching $15.74. 953,132 shares of the company were exchanged, compared to its average volume of 5,890,888. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $29.38. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -2.13 and a beta of 2.06. The stock has a fifty day moving average price of $17.19 and a 200-day moving average price of $20.98.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. On average, analysts expect that PENN Entertainment will post -1.34 EPS for the current year.

Insider Activity at PENN Entertainment

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

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors have recently made changes to their positions in the business. Huntington National Bank grew its holdings in PENN Entertainment by 324.8% in the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after buying an additional 1,072 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in PENN Entertainment during the fourth quarter worth $32,000. Lindbrook Capital LLC raised its stake in PENN Entertainment by 57.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after purchasing an additional 553 shares during the last quarter. Neo Ivy Capital Management bought a new stake in PENN Entertainment in the 4th quarter valued at $40,000. Finally, Signaturefd LLC boosted its holdings in PENN Entertainment by 60.8% in the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after purchasing an additional 727 shares during the period. 91.69% of the stock is currently owned by 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.