PENN Entertainment (NASDAQ:PENN) Receives “Buy” Rating from Craig Hallum

Craig Hallum restated their buy rating on shares of PENN Entertainment (NASDAQ:PENN) in a report issued on Tuesday, Benzinga reports. Craig Hallum currently has a $30.00 price objective on the stock.

PENN has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft lifted their price target on PENN Entertainment from $18.00 to $20.00 and gave the company a hold rating in a research note on Friday, August 9th. Truist Financial boosted their target price on PENN Entertainment from $23.00 to $25.00 and gave the company a buy rating in a research note on Friday, June 14th. Macquarie reaffirmed an outperform rating and set a $26.00 price target on shares of PENN Entertainment in a research note on Friday, August 9th. Susquehanna reissued a positive rating and issued a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, June 21st. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $23.77.

PENN Entertainment Trading Down 1.5 %

NASDAQ:PENN opened at $18.46 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $27.20. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -2.48 and a beta of 2.10. The business’s 50-day moving average price is $18.82 and its two-hundred day moving average price is $18.04.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.09. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. On average, equities analysts expect that PENN Entertainment will post -1.32 earnings per share for the current year.

Insider Activity at PENN Entertainment

In other news, Director Anuj Dhanda acquired 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $18.40 per share, with a total value of $276,000.00. Following the acquisition, the director now owns 31,523 shares in the company, valued at $580,023.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other PENN Entertainment news, Director David A. Handler purchased 10,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $17.51 per share, with a total value of $175,100.00. Following the acquisition, the director now directly owns 293,450 shares in the company, valued at approximately $5,138,309.50. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anuj Dhanda bought 15,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the purchase, the director now directly owns 31,523 shares of the company’s stock, valued at $580,023.20. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 79,200 shares of company stock worth $1,450,548. Insiders own 2.19% of the company’s stock.

Institutional Trading of PENN Entertainment

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after acquiring an additional 1,009 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of PENN Entertainment in the fourth quarter worth $40,000. J.Safra Asset Management Corp bought a new stake in PENN Entertainment during the 2nd quarter valued at $83,000. Quarry LP boosted its position in PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after buying an additional 1,862 shares during the period. Finally, Blue Trust Inc. increased its position in shares of PENN Entertainment by 18.3% in the second quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock valued at $183,000 after acquiring an additional 1,555 shares during the period. Institutional investors own 91.69% of the company’s stock.

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.