PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $13.52 and last traded at $13.70, with a volume of 4896566 shares changing hands. The stock had previously closed at $16.44.
Analyst Ratings Changes
Several equities research analysts recently commented on PENN shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $32.00 price target on shares of PENN Entertainment in a report on Thursday. Stifel Nicolaus lowered their price objective on PENN Entertainment from $27.00 to $23.00 and set a "hold" rating for the company in a research report on Friday, February 16th. Benchmark assumed coverage on PENN Entertainment in a research report on Tuesday, April 16th. They issued a "hold" rating for the company. Mizuho assumed coverage on PENN Entertainment in a research report on Tuesday, March 26th. They issued a "buy" rating and a $29.00 price objective for the company. Finally, StockNews.com lowered PENN Entertainment from a "hold" rating to a "sell" rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.13.
Read Our Latest Research Report on PENN Entertainment
PENN Entertainment Stock Performance
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 company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -4.18 and a beta of 2.06. The stock has a 50 day simple moving average of $17.51 and a two-hundred day simple moving average of $21.24.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts' consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, analysts anticipate that PENN Entertainment, Inc. will post -0.9 earnings per share for the current year.
Institutional Trading of PENN Entertainment
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of PENN Entertainment by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company's stock worth $383,273,000 after buying an additional 97,945 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of PENN Entertainment by 11.1% during the third quarter. Earnest Partners LLC now owns 2,718,095 shares of the company's stock worth $62,380,000 after buying an additional 271,254 shares during the last quarter. Sei Investments Co. grew its holdings in shares of PENN Entertainment by 52.8% during the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company's stock worth $54,595,000 after buying an additional 725,221 shares during the last quarter. Norges Bank purchased a new position in shares of PENN Entertainment during the fourth quarter worth about $42,758,000. Finally, ING Groep NV purchased a new position in shares of PENN Entertainment during the fourth quarter worth about $32,556,000. Institutional investors and hedge funds own 91.69% of the company's stock.
About PENN Entertainment
(
Get Free Report)
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.
Featured Articles
Before you consider PENN Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PENN Entertainment wasn't on the list.
While PENN Entertainment currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
