PENN Entertainment (NASDAQ:PENN) Given New $25.00 Price Target at Truist Financial

PENN Entertainment (NASDAQ:PENNFree Report) had its price target raised by Truist Financial from $23.00 to $25.00 in a research note published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Morgan Stanley increased their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Macquarie lowered their target price on PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a research note on Friday, February 16th. JMP Securities restated a market perform rating on shares of PENN Entertainment in a research note on Tuesday, June 4th. Bank of America downgraded PENN Entertainment from a buy rating to a neutral rating and decreased their price target for the stock from $28.00 to $17.50 in a report on Monday, May 13th. Finally, Susquehanna dropped their price objective on shares of PENN Entertainment from $27.00 to $26.00 and set a positive rating on the stock in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $24.43.

View Our Latest Report on PENN

PENN Entertainment Stock Down 8.7 %

Shares of NASDAQ PENN opened at $17.40 on Friday. The stock has a market cap of $2.65 billion, a PE ratio of -2.34 and a beta of 2.06. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $29.38. The business has a 50-day moving average price of $16.53 and a 200 day moving average price of $19.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33.

PENN Entertainment (NASDAQ:PENNGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Equities research analysts forecast that PENN Entertainment will post -1.35 earnings per share for the current year.

Insider Activity at PENN Entertainment

In other news, Director David A. Handler bought 20,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the transaction, the director now owns 243,450 shares in the company, valued at $3,741,826.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PENN Entertainment news, Director David A. Handler acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the transaction, the director now directly owns 243,450 shares of the company’s stock, valued at $3,741,826.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Felicia Hendrix bought 16,157 shares of the company’s stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $15.47 per share, with a total value of $249,948.79. Following the completion of the acquisition, the chief financial officer now directly owns 68,596 shares in the company, valued at approximately $1,061,180.12. The disclosure for this purchase can be found here. Insiders bought 76,157 shares of company stock valued at $1,154,949 in the last ninety days. Corporate insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of PENN. Swiss National Bank lifted its position in shares of PENN Entertainment by 2.0% in the third quarter. Swiss National Bank now owns 338,784 shares of the company’s stock valued at $7,775,000 after acquiring an additional 6,600 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in PENN Entertainment by 20.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 36,330 shares of the company’s stock valued at $834,000 after purchasing an additional 6,072 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of PENN Entertainment during the 3rd quarter worth about $223,000. Pathstone Family Office LLC purchased a new stake in shares of PENN Entertainment during the third quarter worth about $271,000. Finally, State of New Jersey Common Pension Fund D raised its position in shares of PENN Entertainment by 11.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 103,797 shares of the company’s stock valued at $2,382,000 after buying an additional 10,864 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

About PENN Entertainment

(Get Free Report)

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.

Further Reading

Analyst Recommendations for PENN Entertainment (NASDAQ:PENN)

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