PENN Entertainment (NASDAQ:PENN) Now Covered by Analysts at Raymond James

Raymond James assumed coverage on shares of PENN Entertainment (NASDAQ:PENN - Free Report) in a report published on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $20.00 price objective on the stock.

PENN has been the topic of a number of other research reports. Canaccord Genuity Group lowered their price target on PENN Entertainment from $32.00 to $28.00 and set a buy rating on the stock in a report on Monday, April 29th. Needham & Company LLC reiterated a buy rating and set a $26.00 target price on shares of PENN Entertainment in a report on Wednesday, May 15th. StockNews.com cut PENN Entertainment from a hold rating to a sell rating in a report on Wednesday, March 6th. Benchmark reiterated a hold rating on shares of PENN Entertainment in a report on Friday, May 3rd. Finally, Wells Fargo & Company lowered their target price on PENN Entertainment from $21.00 to $18.00 and set an equal weight rating on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $24.18.

PENN Entertainment Price Performance

Shares of PENN traded up $0.14 on Tuesday, reaching $16.41. The stock had a trading volume of 4,333,742 shares, compared to its average volume of 5,880,646. The firm has a market capitalization of $2.50 billion, a PE ratio of -2.20 and a beta of 2.06. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. The firm has a 50-day moving average of $16.95 and a 200 day moving average of $20.82. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $29.38.

Insiders Place Their Bets

In related news, Director David A. Handler purchased 20,000 shares of the business's stock in a transaction on Monday, May 6th. The shares were bought at an average price of $15.37 per share, with a total value of $307,400.00. Following the completion of the purchase, the director now directly owns 243,450 shares in the company, valued at approximately $3,741,826.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PENN Entertainment news, CFO Felicia Hendrix purchased 16,157 shares of the firm's stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $15.47 per share, with a total value of $249,948.79. Following the transaction, the chief financial officer now owns 68,596 shares in the company, valued at $1,061,180.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Handler purchased 20,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $15.37 per share, with a total value of $307,400.00. Following the completion of the acquisition, the director now owns 243,450 shares in the company, valued at approximately $3,741,826.50. The disclosure for this purchase can be found here. 2.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently modified their holdings of PENN. Huntington National Bank lifted its position in PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company's stock worth $32,000 after acquiring an additional 1,072 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of PENN Entertainment during the fourth quarter worth $32,000. Lindbrook Capital LLC boosted 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 valued at $40,000 after purchasing an additional 553 shares during the period. Neo Ivy Capital Management acquired a new stake in PENN Entertainment during the 4th quarter valued at $40,000. Finally, Signaturefd LLC increased its stake in PENN Entertainment by 60.8% during the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company's stock worth $44,000 after buying 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.