PENN Entertainment (NASDAQ:PENN) Stock Rating Upgraded by Craig Hallum

PENN Entertainment (NASDAQ:PENNGet Free Report) was upgraded by equities researchers at Craig Hallum from a “hold” rating to a “buy” rating in a report issued on Friday, Marketbeat.com reports. The brokerage presently has a $30.00 price objective on the stock, up from their previous price objective of $20.00. Craig Hallum’s price target would indicate a potential upside of 51.29% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Bank of America cut PENN Entertainment from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $28.00 to $17.50 in a research report on Monday, May 13th. Morgan Stanley lifted their price objective on PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Barclays dropped their price target on PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Susquehanna decreased their price objective on shares of PENN Entertainment from $27.00 to $26.00 and set a “positive” rating on the stock in a research report on Friday, May 31st. Finally, Mizuho raised their target price 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.10.

Check Out Our Latest Research Report on PENN Entertainment

PENN Entertainment Stock Down 1.0 %

PENN Entertainment stock opened at $19.83 on Friday. The stock has a 50 day moving average of $16.71 and a two-hundred day moving average of $19.63. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $29.38. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -2.66 and a beta of 2.06. 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 (NASDAQ:PENNGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.20). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. As a group, research analysts expect that PENN Entertainment will post -1.35 earnings per share for the current year.

Insider Buying and Selling at PENN Entertainment

In related news, CFO Felicia Hendrix purchased 16,157 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the transaction, the chief financial officer now directly owns 68,596 shares of the company’s stock, valued at approximately $1,061,180.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other PENN Entertainment news, CFO Felicia Hendrix bought 16,157 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the transaction, the chief financial officer now owns 68,596 shares in the company, valued at $1,061,180.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Handler bought 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average price of $14.94 per share, for a total transaction of $597,600.00. Following the completion of the transaction, the director now owns 283,450 shares in the company, valued at approximately $4,234,743. The disclosure for this purchase can be found here. Insiders purchased 76,157 shares of company stock valued at $1,154,949 in the last quarter. Company insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors have recently modified their holdings of PENN. Norges Bank bought a new position in shares of PENN Entertainment in the fourth quarter worth about $42,758,000. ING Groep NV bought a new stake in shares of PENN Entertainment during the fourth quarter worth approximately $32,556,000. Kettle Hill Capital Management LLC bought a new stake in shares of PENN Entertainment during the third quarter worth approximately $19,792,000. Invenomic Capital Management LP raised its stake in shares of PENN Entertainment by 71.9% during the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock worth $34,313,000 after buying an additional 787,968 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of PENN Entertainment by 52.8% during the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after buying an additional 725,221 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

About PENN Entertainment

(Get Free Report)

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.

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Analyst Recommendations for PENN Entertainment (NASDAQ:PENN)

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