PENN Entertainment (NASDAQ:PENN) Downgraded to “Sell” Rating by StockNews.com

PENN Entertainment (NASDAQ:PENN) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Several other equities analysts also recently weighed in on the company. Truist Financial lowered their target price on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group boosted their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. Susquehanna reduced their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research note on Monday, November 4th. Finally, Benchmark restated a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th. One investment 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $23.44.

PENN Entertainment Stock Down 3.7 %

PENN stock opened at $18.29 on Tuesday. The business’s 50-day moving average is $19.90 and its two-hundred day moving average is $19.32. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -5.15 and a beta of 2.08. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $24.98. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

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

Hedge Funds Weigh In On PENN Entertainment

Institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale bought a new position in shares of PENN Entertainment in the 3rd quarter valued at about $45,000. GAMMA Investing LLC raised its position in PENN Entertainment by 88.5% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock valued at $51,000 after purchasing an additional 1,275 shares during the period. Quest Partners LLC bought a new stake 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 in the 4th quarter worth approximately $63,000. Finally, International Assets Investment Management LLC increased its position in shares of PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after purchasing an additional 3,057 shares during the last quarter. Institutional investors 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.