PENN Entertainment (NASDAQ:PENN) Price Target Cut to $26.00

PENN Entertainment (NASDAQ:PENN - Free Report) had its price objective decreased by Barclays from $27.00 to $26.00 in a report published on Friday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of PENN Entertainment from a hold rating to a sell rating in a report on Wednesday, March 6th. Macquarie lowered their target price on shares of PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a report on Friday, February 16th. Truist Financial decreased their price target on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a report on Friday, February 16th. Morgan Stanley upped their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Finally, Needham & Company LLC decreased their price target on shares of PENN Entertainment from $33.00 to $32.00 and set a buy rating on the stock in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $29.80.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock traded up $0.40 during mid-day trading on Friday, hitting $16.54. 5,656,415 shares of the stock were exchanged, compared to its average volume of 5,605,547. PENN Entertainment has a 12 month low of $15.88 and a 12 month high of $31.63. The company has a 50-day simple moving average of $17.98 and a 200 day simple moving average of $21.46. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $2.52 billion, a P/E ratio of -4.54 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts' consensus estimates of ($0.57) by ($1.18). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. Sell-side analysts anticipate that PENN Entertainment will post -0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. Norges Bank purchased a new stake in PENN Entertainment during the fourth quarter valued at about $59,504,000. ING Groep NV purchased a new stake in PENN Entertainment during the fourth quarter valued at about $32,556,000. Kettle Hill Capital Management LLC purchased a new stake in PENN Entertainment during the third quarter valued at about $19,792,000. Renaissance Technologies LLC raised its stake in shares of PENN Entertainment by 79.3% during the first quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company's stock valued at $75,891,000 after acquiring an additional 791,500 shares during the last quarter. Finally, Sei Investments Co. raised its stake 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 valued at $54,595,000 after acquiring an additional 725,221 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

About PENN Entertainment

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.