PENN Entertainment (NASDAQ:PENN) Shares Gap Up to $16.93

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) gapped up prior to trading on Tuesday . The stock had previously closed at $16.93, but opened at $17.67. PENN Entertainment shares last traded at $17.49, with a volume of 1,067,419 shares.

Wall Street Analysts Forecast Growth

PENN has been the subject of a number of analyst reports. Benchmark initiated coverage on PENN Entertainment in a research note on Tuesday, April 16th. They issued a “hold” rating for the company. Stifel Nicolaus cut their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a research note on Friday, February 16th. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday. Macquarie dropped their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Finally, StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, PENN Entertainment has an average rating of “Moderate Buy” and an average target price of $29.80.

PENN Entertainment Stock Up 2.4 %

The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average is $17.65 and its 200 day moving average is $21.39.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. On average, sell-side analysts forecast that PENN Entertainment, Inc. will post -0.87 earnings per share for the current year.

Institutional Trading of PENN Entertainment

Several institutional investors have recently added to or reduced their stakes in PENN. National Bank of Canada FI lifted its stake in PENN Entertainment by 12.6% in the third quarter. National Bank of Canada FI now owns 4,162 shares of the company’s stock worth $94,000 after purchasing an additional 466 shares during the last quarter. Oak Thistle LLC bought a new stake in PENN Entertainment in the third quarter worth about $581,000. Aaron Wealth Advisors LLC lifted its stake in PENN Entertainment by 6.6% in the third quarter. Aaron Wealth Advisors LLC now owns 12,957 shares of the company’s stock worth $297,000 after purchasing an additional 802 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in shares of PENN Entertainment during the third quarter worth approximately $9,489,000. Finally, Commonwealth Equity Services LLC increased its position in shares of PENN Entertainment by 8.0% during the third quarter. Commonwealth Equity Services LLC now owns 57,884 shares of the company’s stock worth $1,328,000 after acquiring an additional 4,270 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.