PENN Entertainment Inc. [PENN] Stock trading around $32.83 per share: What’s Next?

PENN Entertainment Inc. [NASDAQ: PENN] price plunged by -2.35 percent to reach at -$0.79. The company report on October 10, 2022 that PENN Entertainment to Pursue Four New Growth Projects, Including the Land-based Relocations of Hollywood Casinos in Aurora and Joliet (Illinois) and New Hotels at Hollywood Casino Columbus (Ohio) and the M Resort (Nevada).


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Company to Amend Master Lease with Gaming and Leisure Properties to Facilitate and Fund up to $575 Million of the Approximately $850 Million Overall Project Budget.

PENN Entertainment, Inc. (“PENN” or the “Company”) (Nasdaq: PENN) announced today that it intends to relocate its riverboat casinos in Aurora and Joliet, Illinois to new land-based facilities and to build a new hotel at Hollywood Columbus in Ohio and a second hotel tower at the M Resort in Henderson, Nevada.

A sum of 3679891 shares traded at recent session while its average daily volume was at 3.83M shares. PENN Entertainment Inc. shares reached a high of $34.68 and dropped to a low of $32.67 until finishing in the latest session at $32.83.

The one-year PENN stock forecast points to a potential upside of 33.84. The average equity rating for PENN stock is currently 2.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $49.62 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.

Canaccord Genuity have made an estimate for PENN Entertainment Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 06, 2022. While these analysts kept the previous recommendation, JMP Securities raised their target price to Mkt Outperform. The new note on the price target was released on June 28, 2022, representing the official price target for PENN Entertainment Inc. stock. Previously, the target price had yet another raise to $49, while Jefferies analysts kept a Buy rating on PENN stock. On April 25, 2022, analysts decreased their price target for PENN shares from 55 to 51.

The Average True Range (ATR) for PENN Entertainment Inc. is set at 1.65, with the Price to Sales ratio for PENN stock in the period of the last 12 months amounting to 0.80. The Price to Book ratio for the last quarter was 1.44, with the Price to Cash per share for the same quarter was set at 11.21. Price to Free Cash Flow for PENN in the course of the last twelve months was 9.57 with Quick ratio for the last quarter at 1.90.

PENN Stock Performance Analysis:

PENN Entertainment Inc. [PENN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.79. With this latest performance, PENN shares gained by 7.46% in over the last four-week period, additionally sinking by -15.23% over the last 6 months – not to mention a drop of -55.03% 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 60.07, with the RSI for the last a single of trading hit 63.99, and the three-weeks RSI is set at 56.75 for PENN Entertainment Inc. [PENN]. The present Moving Average for the last 50 days of trading for this stock 30.45, while it was recorded at 32.74 for the last single week of trading, and 35.90 for the last 200 days.

Insight into PENN Entertainment Inc. 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.

PENN Stock EPS

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 Position Details

There are presently around $4,340 million, or 83.50% 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 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 17,802,145 shares of the stock with an approximate value of $584.44 million in PENN stocks shares; and BLACKROCK INC., currently with $365.68 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 November and at the time of the November reporting period, where 211 institutional holders increased their position in PENN Entertainment Inc. [NASDAQ:PENN] by around 21,188,546 shares. Additionally, 267 investors decreased positions by around 19,384,764 shares, while 108 investors held positions by with 91,620,913 shares. The mentioned changes placed institutional holdings at 132,194,223 shares, according to the latest SEC report filing. PENN stock had 59 new institutional investments in for a total of 11,993,812 shares, while 107 institutional investors sold positions of 2,834,401 shares during the same period.

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