StockNews.com Downgrades PENN Entertainment (NASDAQ:PENN) to Sell

StockNews.com lowered shares of PENN Entertainment (NASDAQ:PENN) from a hold rating to a sell rating in a report issued on Tuesday morning.

Other equities research analysts also recently issued reports about the stock. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a report on Friday, November 8th. Barclays cut their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $27.00 in a report on Friday, December 13th. Macquarie upped their price target on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Truist Financial cut their price objective on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.44.

PENN Entertainment Trading Down 3.7 %

Shares of PENN Entertainment stock opened at $18.29 on Tuesday. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $24.98. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50 day moving average price of $19.87 and a 200 day moving average price of $19.31. The company has a market capitalization of $2.79 billion, a P/E ratio of -5.15 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 earnings per share. Sell-side analysts anticipate that PENN Entertainment will post -1.55 EPS for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors have recently added to or reduced their stakes in PENN. DekaBank Deutsche Girozentrale purchased a new stake in shares of PENN Entertainment during the third quarter worth about $45,000. GAMMA Investing LLC increased its holdings in PENN Entertainment by 88.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after purchasing an additional 1,275 shares during the last quarter. Quest Partners LLC acquired a new position in shares of PENN Entertainment in the 3rd quarter valued at approximately $56,000. Modus Advisors LLC purchased a new position in shares of PENN Entertainment during the 4th quarter valued at approximately $63,000. Finally, International Assets Investment Management LLC grew 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 worth $61,000 after buying an additional 3,057 shares in the last quarter. 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.