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Why PENN Entertainment Inc. (PENN) Stock Could See Much Higher Prices Ahead

PENN Entertainment Inc. (NASDAQ: PENN) is 15.08% higher on its value in year-to-date trading and has touched a low of $25.49 and a high of $51.72 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PENN stock was last observed hovering at around $33.92 in the last trading session, with the day’s gains setting it 0.26% off its average median price target of $39.50 for the next 12 months. It is also 57.27% off the consensus price target high of $80.00 offered by 19 analysts, but current levels are -6.81% lower than the price target low of $32.00 for the same period.

Currently trading at $34.18, the stock is 10.24% and 3.37% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.65 million and changing 0.77% at the moment leaves the stock 4.88% off its SMA200. PENN registered -16.47% loss for a year compared to 6-month loss of 1.12%.

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The stock witnessed a 8.82% gain in the last 1 month and extending the period to 3 months gives it a 12.32%, and is 5.23% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.13% over the week and 3.61% over the month.

PENN Entertainment Inc. (PENN) has around 21973 employees, a market worth around $5.13B and $6.39B in sales. Current P/E ratio is 24.80 and Fwd P/E is 18.57. Profit margin for the company is 3.80%. Distance from 52-week low is 34.09% and -33.91% from its 52-week high. The company has generated returns on investments over the last 12 months (8.40%).

PENN Entertainment Inc. (PENN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for PENN Entertainment Inc. (PENN) is a “Overweight”. 19 analysts offering their recommendations for the stock have an average rating of 2.30, where 9 rate it as a Hold and 2 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

PENN Entertainment Inc. is expected to release its quarterly report on 05/04/2023.The EPS is expected to grow by 147.80% this year.

PENN Entertainment Inc. (PENN) Top Institutional Holders

The shares outstanding are 157.60M, and float is at 154.05M with Short Float at 8.28%.

PENN Entertainment Inc. (PENN) Insider Activity

A total of 24 insider transactions have happened at PENN Entertainment Inc. (PENN) in the last six months, with sales accounting for 6 and purchases happening 18 times. The most recent transaction is an insider sale by Snowden Jay A,the company’sPresident and CEO. SEC filings show that Snowden Jay A sold 163,475 shares of the company’s common stock on Dec 27 at a price of $30.12 per share for a total of $4.92 million. Following the sale, the insider now owns 0.6 million shares.

PENN Entertainment Inc. disclosed in a document filed with the SEC on Aug 15 that Reibstein Saul (Director) sold a total of 5,086 shares of the company’s common stock. The trade occurred on Aug 15 and was made at $38.03 per share for $0.19 million. Following the transaction, the insider now directly holds 34663.0 shares of the PENN stock.

Still, SEC filings show that on Feb 17, SCACCETTI JANE (Director) acquired 1,975 shares at an average price of $49.70 for $98167.0. The insider now directly holds 50,569 shares of PENN Entertainment Inc. (PENN).

PENN Entertainment Inc. (PENN): Who are the competitors?

The company’s main competitors (and peers) include Las Vegas Sands Corp. (LVS) that is trading 26.79% up over the past 12 months and DraftKings Inc. (DKNG) that is -23.33% lower over the same period. MGM Resorts International (MGM) is -1.66% down on the 1-year trading charts.

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