PENN Entertainment (NASDAQ:PENN) Price Target Lowered to $23.00 at Truist Financial

PENN Entertainment (NASDAQ:PENN) had its target price reduced by Truist Financial from $25.00 to $23.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on PENN. Craig Hallum reaffirmed a “buy” rating and set a $30.00 target price on shares of PENN Entertainment in a report on Tuesday, October 8th. Wells Fargo & Company raised their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Barclays lowered their price target on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Needham & Company LLC restated a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a research report on Tuesday, October 8th. Finally, JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.96.

PENN Entertainment Stock Performance

PENN opened at $18.62 on Wednesday. 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 12-month low of $13.50 and a 12-month high of $27.20. The firm has a 50 day moving average of $18.92 and a two-hundred day moving average of $18.10. The firm has a market capitalization of $2.84 billion, a PE ratio of -2.50 and a beta of 2.10.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, analysts anticipate that PENN Entertainment will post -1.37 EPS for the current year.

Insiders Place Their Bets

In other PENN Entertainment news, CEO Jay A. Snowden bought 54,200 shares of PENN Entertainment stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the transaction, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Anuj Dhanda purchased 15,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the transaction, the director now directly owns 31,523 shares of the company’s stock, valued at approximately $580,023.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay A. Snowden purchased 54,200 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the transaction, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 79,200 shares of company stock valued at $1,450,548 in the last 90 days. 2.19% of the stock is owned by insiders.

Institutional Trading of PENN Entertainment

Several large investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. boosted its position in shares of PENN Entertainment by 7.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock valued at $252,000 after acquiring an additional 632 shares during the last quarter. United Services Automobile Association boosted its holdings in PENN Entertainment by 6.3% in the 2nd quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock valued at $232,000 after purchasing an additional 712 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in PENN Entertainment by 6.0% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company’s stock valued at $247,000 after purchasing an additional 720 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of PENN Entertainment by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock worth $743,000 after buying an additional 944 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after buying an additional 1,009 shares during the period. 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.