PENN Entertainment (NASDAQ:PENN) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of PENN Entertainment (NASDAQ:PENN) in a research note issued to investors on Friday morning, Marketbeat.com reports.

Several other analysts have also recently weighed in on the stock. JMP Securities boosted their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, August 8th. Stifel Nicolaus lifted their target price on PENN Entertainment from $17.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, July 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of PENN Entertainment in a research report on Wednesday. Barclays lowered their price objective on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. Finally, Wall Street Zen lowered PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.56.

PENN Entertainment Trading Down 0.8%

Shares of NASDAQ:PENN traded down $0.11 during midday trading on Friday, hitting $14.54. 7,188,087 shares of the stock were exchanged, compared to its average volume of 4,094,336. The business’s 50-day moving average price is $18.22 and its 200 day moving average price is $17.47. PENN Entertainment has a 12 month low of $13.25 and a 12 month high of $23.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -25.96 and a beta of 1.53.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.12). PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned ($0.24) earnings per share. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts predict that PENN Entertainment will post -1.61 earnings per share for the current year.

Institutional Trading of PENN Entertainment

Several large investors have recently modified their holdings of the stock. Parallel Advisors LLC lifted its position in shares of PENN Entertainment by 152.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,397 shares of the company’s stock valued at $25,000 after acquiring an additional 843 shares during the period. Quarry LP bought a new stake in PENN Entertainment in the first quarter valued at $30,000. GAMMA Investing LLC raised its holdings in shares of PENN Entertainment by 38.7% during the first quarter. GAMMA Investing LLC now owns 2,636 shares of the company’s stock valued at $43,000 after purchasing an additional 736 shares during the period. State of Wyoming bought a new position in shares of PENN Entertainment during the 1st quarter worth about $46,000. Finally, Cloud Capital Management LLC bought a new position in shares of PENN Entertainment during the 3rd quarter worth about $54,000. 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.