PENN Entertainment (NASDAQ:PENN) Price Target Lowered to $24.00 at Mizuho

PENN Entertainment (NASDAQ:PENN) had its price objective cut by Mizuho from $25.00 to $24.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Barclays dropped their price target on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Needham & Company LLC restated a “buy” rating and issued a $26.00 target price on shares of PENN Entertainment in a report on Tuesday, October 8th. Craig Hallum reiterated a “buy” rating and set a $30.00 price target on shares of PENN Entertainment in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus increased their target price on shares of PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $22.96.

PENN Entertainment Stock Up 3.1 %

Shares of NASDAQ:PENN opened at $19.19 on Tuesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $27.20. The business’s 50 day simple moving average is $18.91 and its two-hundred day simple moving average is $18.11. The firm has a market cap of $2.93 billion, a P/E ratio of -2.37 and a beta of 2.10.

PENN Entertainment (NASDAQ:PENN) last issued 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. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. PENN Entertainment’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. As a group, research analysts forecast that PENN Entertainment will post -1.37 EPS for the current fiscal year.

Insider Transactions at PENN Entertainment

In other news, Director David A. Handler acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the purchase, the director now owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PENN Entertainment news, Director Anuj Dhanda purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the purchase, the director now owns 31,523 shares of the company’s stock, valued at $580,023.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Handler acquired 10,000 shares of PENN Entertainment stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $17.51 per share, with a total value of $175,100.00. Following the completion of the purchase, the director now directly owns 293,450 shares in the company, valued at $5,138,309.50. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 79,200 shares of company stock worth $1,450,548. 2.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On PENN Entertainment

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in shares of PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after purchasing an additional 1,009 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in PENN Entertainment during the 3rd quarter valued at about $45,000. International Assets Investment Management LLC increased its position in shares of PENN Entertainment by 1,634.8% during the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after buying an additional 3,057 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of PENN Entertainment during the second quarter valued at about $83,000. Finally, Quarry LP lifted its holdings in shares of PENN Entertainment by 76.7% in the second quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after buying an additional 1,862 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

About PENN Entertainment

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.