PENN Entertainment (NASDAQ:PENN) PT Raised to $20.00 at Stifel Nicolaus

PENN Entertainment (NASDAQ:PENN) had its price target upped by Stifel Nicolaus from $19.00 to $20.00 in a report published on Friday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other equities analysts have also issued reports on the stock. Mizuho boosted their price target on shares of PENN Entertainment from $29.00 to $32.00 and gave the company a buy rating in a report on Friday, May 3rd. Barclays decreased their target price on PENN Entertainment from $26.00 to $22.00 and set an overweight rating for the company in a research note on Friday, May 3rd. JMP Securities reaffirmed a market perform rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Craig Hallum upgraded PENN Entertainment from a hold rating to a buy rating and boosted their price objective for the company from $20.00 to $30.00 in a research report on Friday, June 21st. Finally, Benchmark restated a hold rating on shares of PENN Entertainment in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $23.83.

PENN Entertainment Trading Up 2.5 %

NASDAQ PENN opened at $18.70 on Friday. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $27.20. The stock has a 50-day simple moving average of $18.71 and a 200 day simple moving average of $18.19. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $2.85 billion, a PE ratio of -2.51 and a beta of 2.11.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. PENN Entertainment’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. Research analysts forecast that PENN Entertainment will post -1.35 EPS for the current year.

Insider Buying and Selling

In related news, Director David A. Handler purchased 40,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were purchased at an average price of $14.94 per share, with a total value of $597,600.00. Following the transaction, the director now directly owns 283,450 shares of the company’s stock, valued at $4,234,743. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 2.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors have recently added to or reduced their stakes in PENN. Flight Deck Capital LP acquired a new stake in PENN Entertainment in the fourth quarter valued at $3,511,000. Contrarius Investment Management Ltd grew its holdings in PENN Entertainment by 139.0% during the fourth quarter. Contrarius Investment Management Ltd now owns 892,394 shares of the company’s stock worth $23,220,000 after purchasing an additional 518,995 shares during the period. Seven Eight Capital LP increased its position in PENN Entertainment by 95.3% during the fourth quarter. Seven Eight Capital LP now owns 213,019 shares of the company’s stock worth $5,543,000 after buying an additional 103,937 shares during the last quarter. Vanguard Group Inc. increased its position in PENN Entertainment by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock worth $383,273,000 after buying an additional 97,945 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of PENN Entertainment by 50.0% in the fourth quarter. Gabelli Funds LLC now owns 24,000 shares of the company’s stock valued at $624,000 after buying an additional 8,000 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.