PENN Entertainment (NASDAQ:PENN - Free Report) had its price target lifted by Deutsche Bank Aktiengesellschaft from $18.00 to $20.00 in a report issued on Friday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.
A number of other analysts also recently issued reports on the company. Benchmark reissued a hold rating on shares of PENN Entertainment in a research report on Friday, May 3rd. Canaccord Genuity Group decreased their target price on PENN Entertainment from $32.00 to $28.00 and set a buy rating for the company in a research report on Monday, April 29th. Susquehanna reissued a positive rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday, June 21st. Morgan Stanley raised their target price on PENN Entertainment from $20.00 to $21.00 and gave the stock an equal weight rating in a research report on Friday, July 12th. Finally, Stifel Nicolaus raised their price target on PENN Entertainment from $19.00 to $20.00 and gave the stock a hold rating in a report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, PENN Entertainment presently has a consensus rating of Hold and a consensus target price of $23.83.
View Our Latest Stock Report on PENN Entertainment
PENN Entertainment Stock Performance
Shares of PENN traded down $0.48 on Friday, reaching $18.24. 7,791,027 shares of the company's stock traded hands, compared to its average volume of 5,984,585. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. The stock has a market cap of $2.78 billion, a PE ratio of -2.45 and a beta of 2.11. The stock's 50 day simple moving average is $18.67 and its two-hundred day simple moving average is $18.34. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $27.20.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the business posted $0.48 earnings per share. The business's revenue for the quarter was down .7% on a year-over-year basis. On average, analysts forecast that PENN Entertainment will post -1.35 earnings per share for the current fiscal year.
Insider Activity at PENN Entertainment
In other PENN Entertainment news, Director David A. Handler purchased 40,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $14.94 per share, with a total value of $597,600.00. Following the transaction, the director now directly owns 283,450 shares of the company's stock, valued at approximately $4,234,743. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.19% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Investment Advisory LLC bought a new position in shares of PENN Entertainment in the 4th quarter worth approximately $32,000. GAMMA Investing LLC raised its position in shares of PENN Entertainment by 233.6% in 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 in the last quarter. Lindbrook Capital LLC raised its position in shares of PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company's stock worth $40,000 after acquiring an additional 553 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of PENN Entertainment in the 4th quarter worth approximately $40,000. Finally, Rakuten Securities Inc. bought a new position in shares of PENN Entertainment in the 4th quarter worth approximately $78,000. Institutional investors own 91.69% of the company's stock.
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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