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Saturday, June 3, 2023

What Are The Chances Of PENN Entertainment Inc. (NASDAQ: PENN) Becoming A Clear Buy?

After Hours

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. After-hours trades for PENN Entertainment Inc. (PENN) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.18, or -0.60%, to $29.61. The PENN Entertainment Inc. has recorded 112,227 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that Gaming and Leisure Properties Reports Record First Quarter 2023 Results and Updates 2023 Full Year Guidance.

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Stocks Info

As a NASDAQ listed company, PENN falls under the Consumer Cyclical sector while operating within the Resorts & Casinos industry segment. At the end of the last regular session, the stock closed at $29.79 and fluctuated between $29.86 as its day high and $29.46 as its day low. The current market capitalization of PENN Entertainment Inc. is $4.68B. A total of 1.61 million shares were traded on the day, compared to an average of 2.18M shares.

Insider Activity

Aside from predicting where a stock will go, investors also consider insider trades as an indicator of the stock’s future direction. During the recent three months, PENN has seen 8 BUY and 14 SELL insider trades, representing the acquisition of 121,700 and the disposition of 77,131 shares. Over the last 12 months, there were 26 BUYs and 20 SELLs from insiders. Insiders purchased 454,595 shares during that period but sold 267,051.

In the most recent transaction, Reibstein Saul sold 39,457 shares of PENN for 33.39 per share on Feb 06. After the transaction, the Director now owns 37,055 company shares. In a previous transaction on Dec 27, Snowden Jay A sold 163,475 shares at 30.12 per share. PENN shares that President and CEO owns now total 604,527.

Among the insiders who sold shares, Reibstein Saul disposed of 5,086 shares on Aug 15 at a per-share price of $38.03. This resulted in the Director holding 34,663 shares of PENN after the transaction.

In spite of price targets being rarely accurate, it tends to exert some kind influence from time to time, and was often accepted by the market as having some value. According to analysts who have offered 12-month price targets for PENN in the last 3 months, the mean price target is $41.33 with high estimates of $65.00 and low estimates of $31.00. In terms of 52-week highs and lows, PENN has a high of $39.35 and a low of $25.49.

As of this writing, PENN has an earnings estimate of $0.37 per share for the current quarter. EPS was calculated based on a consensus of 16 estimates, with a high estimate of $0.51 per share and a lower estimate of $0.25. The company reported an EPS of $0.72 in the last quarter, which was 89.50% higher than expectations of $0.38.

Balance Sheet Annually/Quarterly

The balance sheet of a company shows what assets and liabilities a company has, as well as the amount, equity investors have invested. With the help of this information, a company’s financial ratios can be calculated to give investors an overview of the company’s prospects. PENN’s latest balance sheet shows that the firm has $1.86B in Cash & Short Term Investments as of fiscal 2021. There were $11.61B in debt and $1.13B in liabilities at the time. Its Book Value Per Share was $23.19, while its Total Shareholder’s Equity was $4.10B.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 19 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for PENN is Underweight with a score of 3.64. A total of 8 analysts rated the stock as Buy while 2 rated it as Overweight while 9 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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