JMP Securities Reiterates “Market Perform” Rating for PENN Entertainment (NASDAQ:PENN)

JMP Securities reiterated their market perform rating on shares of PENN Entertainment (NASDAQ:PENN) in a report issued on Thursday morning,Benzinga reports.

Other analysts have also issued reports about the stock. Benchmark restated a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. Barclays reduced their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Mizuho lowered their price objective on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Craig Hallum restated a “buy” rating and issued a $30.00 target price on shares of PENN Entertainment in a report on Tuesday, October 8th. Finally, Truist Financial lowered their price target on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, PENN Entertainment currently has a consensus rating of “Hold” and an average target price of $23.44.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock opened at $20.46 on Thursday. The firm has a market capitalization of $3.12 billion, a PE ratio of -5.76, a price-to-earnings-growth ratio of 1.27 and a beta of 2.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $24.57. The business’s 50-day moving average price is $19.95 and its 200-day moving average price is $19.35.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business earned $1.21 earnings per share. Sell-side analysts forecast that PENN Entertainment will post -1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new stake in PENN Entertainment in the third quarter worth $45,000. GAMMA Investing LLC boosted its holdings in shares of PENN Entertainment by 88.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock valued at $51,000 after buying an additional 1,275 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of PENN Entertainment in the 3rd quarter worth about $56,000. Modus Advisors LLC bought a new position in shares of PENN Entertainment in the 4th quarter worth about $63,000. Finally, International Assets Investment Management LLC lifted its position in 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 acquiring an additional 3,057 shares during the period. Institutional investors own 91.69% of the company’s stock.

About PENN Entertainment

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.