PENN Entertainment (NASDAQ:PENN) Earns “Market Perform” Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of PENN Entertainment (NASDAQ:PENN) in a report issued on Tuesday morning, Benzinga reports.

Several other research firms have also recently commented on PENN. Morgan Stanley raised their target price on PENN Entertainment from $21.00 to $22.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Truist Financial upgraded PENN Entertainment from a hold rating to a buy rating and set a $23.00 price target on the stock in a report on Tuesday. Mizuho initiated coverage on PENN Entertainment in a report on Tuesday, March 26th. They issued a buy rating and a $29.00 target price on the stock. StockNews.com lowered PENN Entertainment from a hold rating to a sell rating in a report on Wednesday, March 6th. Finally, Stifel Nicolaus dropped their target price on PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $29.80.

PENN Entertainment Trading Down 3.6 %

Shares of PENN stock opened at $17.19 on Tuesday. The stock has a 50-day moving average of $17.61 and a 200-day moving average of $21.36. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11. PENN Entertainment has a 1-year low of $15.88 and a 1-year high of $31.63.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, analysts expect that PENN Entertainment will post -0.9 earnings per share for the current year.

Institutional Trading of PENN Entertainment

A number of hedge funds have recently bought and sold shares of PENN. Huntington National Bank increased its position in PENN Entertainment by 324.8% in the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after buying an additional 1,072 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of PENN Entertainment in the fourth quarter valued at $32,000. Lindbrook Capital LLC grew its position in shares of PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after purchasing an additional 553 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of PENN Entertainment in the fourth quarter valued at $40,000. Finally, Signaturefd LLC grew its position in shares of PENN Entertainment by 60.8% in the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after purchasing an additional 727 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

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.