PENN Entertainment (NASDAQ:PENN) Stock Rating Upgraded by Roth Capital

Posted by on May 4th, 2023

PENN Entertainment (NASDAQ:PENN – Get Rating) was upgraded by investment analysts at Roth Capital from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, PriceTargets.com reports.

A number of other research firms have also recently weighed in on PENN. Jefferies Financial Group cut shares of PENN Entertainment from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $50.00 to $34.00 in a research report on Monday, January 9th. MKM Partners boosted their price objective on PENN Entertainment from $33.00 to $35.00 in a report on Friday, February 3rd. Susquehanna lowered their target price on PENN Entertainment from $44.00 to $42.00 and set a “positive” rating for the company in a report on Tuesday, April 11th. Needham & Company LLC cut their price target on shares of PENN Entertainment from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Finally, Stifel Nicolaus lowered shares of PENN Entertainment from a “buy” rating to a “hold” rating and lowered their price objective for the company from $45.00 to $35.00 in a research note on Friday, January 6th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, PENN Entertainment currently has an average rating of “Moderate Buy” and an average target price of $39.71.

PENN Entertainment Trading Down 1.2 %

Shares of PENN Entertainment stock opened at $30.11 on Tuesday. The stock has a 50 day moving average of $29.12 and a 200 day moving average of $31.49. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.74 and a current ratio of 1.74. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 1.11 and a beta of 2.21. PENN Entertainment has a fifty-two week low of $25.49 and a fifty-two week high of $39.35.

PENN Entertainment (NASDAQ:PENN – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.20). PENN Entertainment had a return on equity of 5.98% and a net margin of 3.47%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts predict that PENN Entertainment will post 1.46 earnings per share for the current year.

Insider Buying and Selling at PENN Entertainment

In other news, Director Saul Reibstein sold 39,457 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $33.39, for a total transaction of $1,317,469.23. Following the completion of the sale, the director now owns 37,055 shares in the company, valued at approximately $1,237,266.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PENN Entertainment

Large investors have recently modified their holdings of the company. James Investment Research Inc. purchased a new stake in PENN Entertainment in the 4th quarter valued at $26,000. GPS Wealth Strategies Group LLC acquired a new position in PENN Entertainment in the first quarter valued at $28,000. Private Trust Co. NA raised its holdings in shares of PENN Entertainment by 58.5% in the first quarter. Private Trust Co. NA now owns 994 shares of the company’s stock valued at $29,000 after buying an additional 367 shares during the last quarter. Signaturefd LLC boosted its stake in shares of PENN Entertainment by 58.0% during the first quarter. Signaturefd LLC now owns 962 shares of the company’s stock worth $29,000 after buying an additional 353 shares during the period. Finally, TCI Wealth Advisors Inc. grew its holdings in shares of PENN Entertainment by 20,040.0% during the first quarter. TCI Wealth Advisors Inc. now owns 1,007 shares of the company’s stock worth $30,000 after buying an additional 1,002 shares during the last quarter. 84.40% of the stock is owned by institutional investors and hedge funds.

About PENN Entertainment

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PENN Entertainment, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest, Interactive, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.

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