PENN Entertainment (NASDAQ:PENN) Price Target Lowered to $25.00 at Susquehanna

PENN Entertainment (NASDAQ:PENN) had its target price lowered by Susquehanna from $26.00 to $25.00 in a report issued on Monday morning, Benzinga reports. Susquehanna currently has a positive rating on the stock.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 9th. Morgan Stanley cut their price objective on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 22nd. Mizuho decreased their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Macquarie reissued an “outperform” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Friday, August 9th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $30.00 price objective on shares of PENN Entertainment in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.89.

PENN Entertainment Stock Up 4.9 %

PENN Entertainment stock opened at $19.23 on Monday. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The firm has a market capitalization of $2.93 billion, a PE ratio of -2.37 and a beta of 2.09. The company’s 50-day moving average is $18.95 and its 200-day moving average is $18.30. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts anticipate that PENN Entertainment will post -1.36 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jay A. Snowden acquired 54,200 shares of the stock in a transaction on 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 in the company, valued at approximately $15,730,149.80. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other PENN Entertainment news, Director Anuj Dhanda acquired 15,000 shares of PENN Entertainment stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $18.40 per share, with a total value 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay A. Snowden bought 54,200 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the transaction, the chief executive officer now owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 79,200 shares of company stock worth $1,450,548. Corporate insiders own 2.19% of the company’s stock.

Hedge Funds Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of PENN Entertainment by 4,624.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock worth $28,183,000 after acquiring an additional 1,425,274 shares during the period. Assenagon Asset Management S.A. lifted its holdings in PENN Entertainment by 1,051.0% in the third quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company’s stock valued at $26,809,000 after buying an additional 1,297,976 shares during the period. Armistice Capital LLC boosted its position in PENN Entertainment by 91.9% during the second quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock valued at $51,156,000 after acquiring an additional 1,266,023 shares during the last quarter. Invenomic Capital Management LP grew its holdings in PENN Entertainment by 71.9% during the 1st quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock worth $34,313,000 after acquiring an additional 787,968 shares during the period. Finally, National Bank of Canada FI raised its position in shares of PENN Entertainment by 284.6% in the 1st quarter. National Bank of Canada FI now owns 968,514 shares of the company’s stock worth $17,637,000 after acquiring an additional 716,686 shares in the last quarter. 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.