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

PENN Entertainment (NASDAQ:PENN)‘s stock had its “market perform” rating reaffirmed by investment analysts at JMP Securities in a report issued on Tuesday, Benzinga reports.

PENN has been the topic of a number of other reports. StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Morgan Stanley boosted their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Stifel Nicolaus cut their price target on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Needham & Company LLC cut their price target on shares of PENN Entertainment from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Benchmark began coverage on shares of PENN Entertainment in a report on Tuesday, April 16th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.80.

PENN Entertainment Stock Up 0.5 %

NASDAQ:PENN traded up $0.09 during trading hours on Tuesday, hitting $17.02. 1,773,060 shares of the company traded hands, compared to its average volume of 5,556,156. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The firm’s 50-day simple moving average is $17.85 and its 200-day simple moving average is $21.44. PENN Entertainment has a one year low of $15.88 and a one year high of $31.63. The company has a market cap of $2.59 billion, a PE ratio of -4.77 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.54 billion. Equities analysts predict that PENN Entertainment will post -0.86 earnings per share for the current year.

Institutional Investors Weigh In On PENN Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank increased its position in shares of PENN Entertainment by 324.8% during the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after buying an additional 1,072 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of PENN Entertainment during the fourth quarter valued at about $32,000. Lindbrook Capital LLC increased its position in shares of PENN Entertainment by 57.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after buying an additional 553 shares during the period. Neo Ivy Capital Management bought a new stake in shares of PENN Entertainment during the fourth quarter valued at about $40,000. Finally, Signaturefd LLC increased its position in shares of PENN Entertainment by 60.8% during the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after buying an additional 727 shares during the period. 91.69% of the stock is currently owned by institutional investors.

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.