PENN Entertainment (NASDAQ:PENN) Shares Gap Up to $16.93

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $16.93, but opened at $17.67. PENN Entertainment shares last traded at $17.49, with a volume of 1,067,419 shares.

Wall Street Analysts Forecast Growth

PENN has been the subject of several recent analyst reports. Needham & Company LLC reduced their target price on PENN Entertainment from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Friday, February 16th. Barclays reduced their target price on PENN Entertainment from $27.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday. Benchmark started coverage on shares of PENN Entertainment in a research report on Tuesday, April 16th. They set a "hold" rating for the company. Mizuho started coverage on shares of PENN Entertainment in a research report on Tuesday, March 26th. They set a "buy" rating and a $29.00 target price for the company. Finally, StockNews.com lowered shares of 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 issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $29.80.

PENN Entertainment Stock Up 3.0 %

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 stock has a market capitalization of $2.66 billion, a PE ratio of -4.77 and a beta of 2.06. The company has a 50 day moving average price of $17.85 and a 200-day moving average price of $21.44.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its 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). The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. As a group, analysts forecast that PENN Entertainment, Inc. will post -0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Investment Advisory LLC bought a new stake in PENN Entertainment during the 4th quarter valued at about $32,000. Huntington National Bank lifted its holdings in shares of PENN Entertainment by 324.8% during the third quarter. Huntington National Bank now owns 1,402 shares of the company's stock valued at $32,000 after purchasing an additional 1,072 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company's stock worth $40,000 after acquiring an additional 553 shares during the period. Neo Ivy Capital Management purchased a new position in shares of PENN Entertainment during the fourth quarter valued at approximately $40,000. Finally, Signaturefd LLC lifted its position in PENN Entertainment by 60.8% during the third quarter. Signaturefd LLC now owns 1,922 shares of the company's stock valued at $44,000 after purchasing an additional 727 shares during the period. Hedge funds and other institutional investors own 91.69% of the company's stock.

PENN Entertainment Company Profile

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.