PENN Entertainment Inc. [PENN] moved up 1.53: Why It’s Important

PENN Entertainment Inc. [NASDAQ: PENN] closed the trading session at $26.53 on 09/27/22. The day’s price range saw the stock hit a low of $26.4301, while the highest price level was $28.02. The company report on September 27, 2022 that Gaming and Leisure Properties Completes Previously Announced Sale of Tropicana Las Vegas and Simultaneously Enters into Ground Lease with Bally’s Corporation.


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Gaming and Leisure Properties, Inc. (NASDAQ: GLPI), announced today the completion of the previously announced sale of GLPI’s non-land real estate assets and PENN Entertainment, Inc.’s (NASDAQ: PENN) outstanding equity interests in Tropicana Las Vegas Hotel and Casino, Inc. to Bally’s Corporation (NYSE: BALY) (“Bally’s”). GLPI will receive net proceeds of approximately $145 million in cash after fees and expenses.

Pursuant to the terms of the original agreement, GLPI retained its ownership of the land and concurrent with the closing, entered into a 50-year ground lease with Bally’s, subject to extension upon Bally’s achieving a capital investment threshold, for an initial annual rent of $10.5 million. The ground lease will be supported by a Bally’s corporate guarantee and cross-defaulted with the Bally’s Master Lease with GLPI.

The stocks have a year to date performance of -48.83 percent and weekly performance of -13.27 percent. The stock has been moved at -36.30 percent over the last six months. The stock has performed -17.56 percent around the most recent 30 days and changed -16.55 percent over the most recent 3-months.

If compared to the average trading volume of 3.64M shares, PENN reached to a volume of 4278850 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about PENN Entertainment Inc. [PENN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PENN shares is $51.53 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PENN stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JMP Securities have made an estimate for PENN Entertainment Inc. shares, keeping their opinion on the stock as Mkt Outperform, with their previous recommendation back on June 28, 2022. The new note on the price target was released on May 18, 2022, representing the official price target for PENN Entertainment Inc. stock. Previously, the target price had yet another drop from $55 to $51, while Morgan Stanley kept a Overweight rating on PENN stock. On February 09, 2022, analysts increased their price target for PENN shares from 34 to 65.

The Average True Range (ATR) for PENN Entertainment Inc. is set at 1.61, with the Price to Sales ratio for PENN stock in the period of the last 12 months amounting to 0.67. The Price to Book ratio for the last quarter was 1.17, with the Price to Cash per share for the same quarter was set at 10.72. Price to Free Cash Flow for PENN in the course of the last twelve months was 8.09 with Quick ratio for the last quarter at 1.90.

PENN stock trade performance evaluation

PENN Entertainment Inc. [PENN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.27. With this latest performance, PENN shares dropped by -17.56% in over the last four-week period, additionally sinking by -36.30% over the last 6 months – not to mention a drop of -65.76% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PENN stock in for the last two-week period is set at 29.87, with the RSI for the last a single of trading hit 24.88, and the three-weeks RSI is set at 34.40 for PENN Entertainment Inc. [PENN]. The present Moving Average for the last 50 days of trading for this stock 32.91, while it was recorded at 27.03 for the last single week of trading, and 38.23 for the last 200 days.

PENN Entertainment Inc. [PENN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and PENN Entertainment Inc. [PENN] shares currently have an operating margin of +17.98 and a Gross Margin at +40.86. PENN Entertainment Inc.’s Net Margin is presently recorded at +7.13.

Return on Equity for this stock inclined to 12.46, with Return on Assets sitting at 2.31.

PENN Entertainment Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.

Earnings per share (EPS) analysis for PENN Entertainment Inc. [PENN] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PENN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PENN Entertainment Inc. go to 5.64%.

PENN Entertainment Inc. [PENN]: Insider Ownership positions

There are presently around $3,525 million, or 84.60% of PENN stock, in the hands of institutional investors. The top three institutional holders of PENN stocks are: FMR LLC with ownership of 20,826,118, which is approximately 7.204% of the company’s market cap and around 0.67% of the total institutional ownership; VANGUARD GROUP INC, holding 17,802,145 shares of the stock with an approximate value of $472.29 million in PENN stocks shares; and BLACKROCK INC., currently with $295.5 million in PENN stock with ownership of nearly -30.022% of the company’s market capitalization.

Positions in PENN Entertainment Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 226 institutional holders increased their position in PENN Entertainment Inc. [NASDAQ:PENN] by around 21,837,100 shares. Additionally, 287 investors decreased positions by around 19,720,732 shares, while 107 investors held positions by with 91,299,971 shares. The mentioned changes placed institutional holdings at 132,857,803 shares, according to the latest SEC report filing. PENN stock had 61 new institutional investments in for a total of 12,391,289 shares, while 117 institutional investors sold positions of 3,433,238 shares during the same period.

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