PENN Entertainment (NASDAQ:PENN) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of PENN Entertainment (NASDAQ:PENN) from a hold rating to a sell rating in a research report released on Friday morning.

A number of other equities research analysts also recently issued reports on PENN. Morgan Stanley decreased their price objective on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. Barclays cut their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Needham & Company LLC restated a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Friday, November 8th. Jefferies Financial Group boosted their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Finally, Macquarie raised their target price on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, PENN Entertainment presently has a consensus rating of “Hold” and an average price target of $23.44.

PENN Entertainment Trading Down 2.2 %

Shares of PENN opened at $20.02 on Friday. The stock has a market capitalization of $3.06 billion, a PE ratio of -5.64, a P/E/G ratio of 1.27 and a beta of 2.08. The company’s fifty day moving average is $19.94 and its 200 day moving average is $19.36. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $24.57.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $1.21 EPS. Sell-side analysts expect that PENN Entertainment will post -1.54 earnings per share for the current fiscal year.

Institutional Trading of PENN Entertainment

A number of large investors have recently modified their holdings of PENN. DekaBank Deutsche Girozentrale purchased a new position in PENN Entertainment during the 3rd quarter worth $45,000. GAMMA Investing LLC grew its position in shares of PENN Entertainment by 88.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after buying an additional 1,275 shares in the last quarter. Quest Partners LLC purchased a new position in shares of PENN Entertainment during the third quarter valued at $56,000. Modus Advisors LLC bought a new stake in shares of PENN Entertainment in the fourth quarter valued at about $63,000. Finally, International Assets Investment Management LLC lifted its stake in PENN Entertainment by 1,634.8% in the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after acquiring an additional 3,057 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.