A number of other brokerages have also recently commented on PENN. Macquarie restated an "outperform" rating and set a $26.00 price target on shares of PENN Entertainment in a research note on Friday, August 9th. Stifel Nicolaus increased their target price on PENN Entertainment from $19.00 to $20.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. Morgan Stanley reduced their price target on PENN Entertainment from $21.00 to $20.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 4th. Truist Financial increased their price objective on PENN Entertainment from $23.00 to $25.00 and gave the company a "buy" rating in a report on Friday, June 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a "hold" rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $23.77.
View Our Latest Stock Report on PENN Entertainment
Shares of PENN Entertainment stock traded up $0.49 during midday trading on Friday, hitting $18.91. The company had a trading volume of 577,738 shares, compared to its average volume of 5,402,615. The stock has a market cap of $2.88 billion, a PE ratio of -2.54 and a beta of 2.10. The business's 50 day simple moving average is $18.90 and its two-hundred day simple moving average is $18.01. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $27.20. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.09. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The business's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 earnings per share. As a group, equities analysts predict that PENN Entertainment will post -1.32 EPS for the current fiscal year.
In related news, CEO Jay A. Snowden acquired 54,200 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the purchase, the chief executive officer now owns 853,045 shares in the company, valued at approximately $15,730,149.80. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Jay A. Snowden acquired 54,200 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the transaction, the chief executive officer now directly owns 853,045 shares in the company, valued at approximately $15,730,149.80. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director David A. Handler purchased 10,000 shares of the business's stock in a transaction on Tuesday, September 10th. The stock was 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 approximately $5,138,309.50. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 79,200 shares of company stock valued at $1,450,548 over the last three months. Company insiders own 2.19% of the company's stock.
Institutional investors have recently bought and sold shares of the stock. Flight Deck Capital LP purchased a new stake in PENN Entertainment in the fourth quarter worth approximately $3,511,000. Seven Eight Capital LP increased its stake in PENN Entertainment by 95.3% in the fourth quarter. Seven Eight Capital LP now owns 213,019 shares of the company's stock worth $5,543,000 after purchasing an additional 103,937 shares during the period. Driehaus Capital Management LLC purchased a new position in PENN Entertainment during the second quarter valued at approximately $4,535,000. Vanguard Group Inc. raised its stake in PENN Entertainment by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company's stock valued at $383,273,000 after buying an additional 97,945 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in PENN Entertainment by 50.0% during the 4th quarter. Gabelli Funds LLC now owns 24,000 shares of the company's stock valued at $624,000 after acquiring an additional 8,000 shares during the period. Institutional investors own 91.69% of the company's stock.
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.
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