PENN Entertainment (NASDAQ:PENN) Price Target Cut to $25.00 by Analysts at Susquehanna

PENN Entertainment (NASDAQ:PENN) had its target price decreased by Susquehanna from $26.00 to $25.00 in a research report report published on Monday,Benzinga reports. Susquehanna currently has a positive rating on the stock.

PENN has been the topic of several other reports. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. Truist Financial reduced their price objective on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Macquarie reissued an “outperform” rating and issued a $26.00 price objective on shares of PENN Entertainment in a report on Friday, August 9th. Morgan Stanley cut their target price on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 22nd. Finally, Mizuho decreased their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.89.

PENN Entertainment Stock Up 5.1 %

Shares of PENN Entertainment stock opened at $20.22 on Monday. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -2.49 and a beta of 2.09. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $27.20. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35. The business’s 50 day simple moving average is $18.98 and its 200-day simple moving average is $18.31.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company earned $0.48 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts forecast that PENN Entertainment will post -1.36 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jay A. Snowden purchased 54,200 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the acquisition, the chief executive officer now owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director David A. Handler purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average price of $17.51 per share, with a total value of $175,100.00. Following the purchase, the director now owns 293,450 shares of the company’s stock, valued at $5,138,309.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jay A. Snowden acquired 54,200 shares of PENN Entertainment stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $18.44 per share, with a total value of $999,448.00. Following the completion of the purchase, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 79,200 shares of company stock worth $1,450,548. Corporate insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On PENN Entertainment

A number of large investors have recently made changes to their positions in PENN. Pathstone Holdings LLC grew its position in PENN Entertainment by 10.2% during the 3rd quarter. Pathstone Holdings LLC now owns 394,244 shares of the company’s stock worth $7,435,000 after purchasing an additional 36,347 shares in the last quarter. Quest Partners LLC purchased a new stake in PENN Entertainment in the 3rd quarter worth about $56,000. Natixis Advisors LLC boosted its position in PENN Entertainment by 25.3% during the 3rd quarter. Natixis Advisors LLC now owns 303,655 shares of the company’s stock worth $5,727,000 after acquiring an additional 61,285 shares during the period. Entropy Technologies LP acquired a new position in shares of PENN Entertainment in the 3rd quarter valued at about $586,000. Finally, Versor Investments LP purchased a new stake in shares of PENN Entertainment in the third quarter worth approximately $571,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.