PENN Entertainment, Inc. (NASDAQ:PENN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENNGet Free Report) have been given an average rating of “Moderate Buy” by the thirteen brokerages that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $32.29.

PENN has been the subject of several analyst reports. Truist Financial reduced their target price on shares of PENN Entertainment from $30.00 to $25.00 and set a “hold” rating for the company in a report on Wednesday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price objective on shares of PENN Entertainment in a report on Monday, December 11th. Morgan Stanley cut their price objective on shares of PENN Entertainment from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, November 13th. TheStreet lowered shares of PENN Entertainment from a “c-” rating to a “d” rating in a report on Friday, November 10th. Finally, Bank of America raised shares of PENN Entertainment from a “neutral” rating to a “buy” rating and increased their price objective for the company from $27.00 to $30.00 in a report on Monday, November 20th.

Read Our Latest Stock Report on PENN Entertainment

Insider Buying and Selling

In other news, EVP Christopher Byron Rogers sold 5,017 shares of PENN Entertainment stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $25.23, for a total transaction of $126,578.91. Following the completion of the sale, the executive vice president now directly owns 30,214 shares in the company, valued at $762,299.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Christopher Byron Rogers sold 5,017 shares of PENN Entertainment stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $25.23, for a total transaction of $126,578.91. Following the completion of the sale, the executive vice president now directly owns 30,214 shares in the company, valued at $762,299.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jay A. Snowden sold 172,930 shares of PENN Entertainment stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $25.25, for a total value of $4,366,482.50. Following the sale, the chief executive officer now owns 689,072 shares of the company’s stock, valued at $17,399,068. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PENN Entertainment

Institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of PENN Entertainment during the second quarter valued at $27,000. International Assets Investment Management LLC purchased a new position in PENN Entertainment in the third quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its stake in PENN Entertainment by 2,528.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company’s stock valued at $32,000 after purchasing an additional 1,264 shares during the last quarter. Huntington National Bank grew its stake in PENN Entertainment by 324.8% in the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in PENN Entertainment in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 82.34% of the company’s stock.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $23.28 on Tuesday. The firm’s 50-day moving average is $24.08 and its 200 day moving average is $23.42. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -20.42, a PEG ratio of 29.00 and a beta of 2.13. PENN Entertainment has a 1 year low of $18.35 and a 1 year high of $32.86. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.42 and a quick ratio of 1.41.

PENN Entertainment Company Profile

(Get Free Report

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet Sportbook and Casino.

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Analyst Recommendations for PENN Entertainment (NASDAQ:PENN)

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