PENN Entertainment, Inc. (NASDAQ:PENN) Receives $32.29 Consensus Target Price from Brokerages

PENN Entertainment, Inc. (NASDAQ:PENNGet Free Report) has earned an average rating of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $32.29.

A number of research analysts have recently commented on PENN shares. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price target on shares of PENN Entertainment in a research note on Monday, December 11th. Truist Financial decreased their price target on PENN Entertainment from $30.00 to $25.00 and set a “hold” rating for the company in a report on Wednesday, October 18th. TheStreet downgraded PENN Entertainment from a “c-” rating to a “d” rating in a research note on Friday, November 10th. Bank of America raised shares of PENN Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $27.00 to $30.00 in a research report on Monday, November 20th. Finally, Morgan Stanley lowered their price target on shares of PENN Entertainment from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, November 13th.

Read Our Latest Stock Analysis on PENN Entertainment

Insider Activity

In other PENN Entertainment news, CEO Jay A. Snowden sold 172,930 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $25.25, for a total value of $4,366,482.50. Following the sale, the chief executive officer now owns 689,072 shares in the company, valued at $17,399,068. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Jay A. Snowden sold 172,930 shares of the firm’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $25.25, for a total transaction of $4,366,482.50. Following the sale, the chief executive officer now directly owns 689,072 shares in the company, valued at approximately $17,399,068. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Byron Rogers sold 5,017 shares of PENN Entertainment stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $25.23, for a total transaction of $126,578.91. Following the completion of the transaction, the executive vice president now directly owns 30,214 shares of the company’s stock, valued at $762,299.22. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On PENN Entertainment

A number of large investors have recently made changes to their positions in the company. HG Vora Capital Management LLC boosted its stake in shares of PENN Entertainment by 3.6% during the 2nd quarter. HG Vora Capital Management LLC now owns 14,500,000 shares of the company’s stock worth $348,435,000 after purchasing an additional 500,000 shares during the period. Long Pond Capital LP bought a new stake in PENN Entertainment during the 2nd quarter valued at about $74,533,000. Earnest Partners LLC lifted its holdings in PENN Entertainment by 11.1% during the 3rd quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock valued at $62,380,000 after buying an additional 271,254 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in PENN Entertainment by 3.0% during the 2nd quarter. Renaissance Technologies LLC now owns 2,419,900 shares of the company’s stock valued at $58,150,000 after buying an additional 71,062 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in PENN Entertainment by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,389,163 shares of the company’s stock valued at $57,412,000 after buying an additional 67,182 shares in the last quarter. 82.34% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Price Performance

PENN Entertainment stock opened at $23.39 on Tuesday. The stock’s 50 day moving average is $24.05 and its 200-day moving average is $23.39. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -20.52, a PEG ratio of 30.08 and a beta of 2.13. PENN Entertainment has a 12 month low of $18.35 and a 12 month high of $32.86. The company has a current ratio of 1.42, a quick ratio of 1.41 and a debt-to-equity ratio of 1.47.

About PENN Entertainment

(Get Free Report

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet Sportbook and Casino.

Recommended Stories

Analyst Recommendations for PENN Entertainment (NASDAQ:PENN)

Receive News & Ratings for PENN Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PENN Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.