PENN Entertainment, Inc. (NASDAQ:PENN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $25.03.

Several research analysts recently commented on PENN shares. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, June 4th. Craig Hallum raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $30.00 in a research note on Friday, June 21st. Mizuho lifted their target price on shares of PENN Entertainment from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 target price on shares of PENN Entertainment in a research note on Wednesday, May 15th. Finally, Canaccord Genuity Group decreased their target price on shares of PENN Entertainment from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, April 29th.

PENN Entertainment Trading Down 5.0 %

Shares of PENN opened at $16.97 on Tuesday. The firm’s 50 day simple moving average is $18.47 and its 200 day simple moving average is $18.43. The company has a market capitalization of $2.59 billion, a P/E ratio of -2.28 and a beta of 2.11. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.04 and a quick ratio of 1.04. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $29.38.

Insider Buying and Selling at PENN Entertainment

In related news, Director David A. Handler acquired 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, for a total transaction of $597,600.00. Following the completion of the purchase, the director now owns 283,450 shares of the company’s stock, valued at $4,234,743. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.19% of the stock is owned by company insiders.

Institutional Trading of PENN Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of PENN. Norges Bank bought a new stake in shares of PENN Entertainment in the 4th quarter worth $42,758,000. ING Groep NV purchased a new position in PENN Entertainment during the fourth quarter valued at $32,556,000. Invenomic Capital Management LP lifted its position in PENN Entertainment by 71.9% during the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock valued at $34,313,000 after purchasing an additional 787,968 shares in the last quarter. Sei Investments Co. lifted its position in PENN Entertainment by 52.8% during the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after purchasing an additional 725,221 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in PENN Entertainment by 284.6% during the first quarter. National Bank of Canada FI now owns 968,514 shares of the company’s stock valued at $17,637,000 after purchasing an additional 716,686 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

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.