PENN Entertainment (NASDAQ:PENN) Price Target Cut to $28.00 by Analysts at Canaccord Genuity Group

PENN Entertainment (NASDAQ:PENN - Get Free Report) had its price target dropped by Canaccord Genuity Group from $32.00 to $28.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 64.42% from the stock's previous close.

A number of other research analysts have also recently issued reports on the stock. Needham & Company LLC decreased their price objective on shares of PENN Entertainment from $33.00 to $32.00 and set a "buy" rating for the company in a report on Friday, February 16th. StockNews.com downgraded PENN Entertainment from a "hold" rating to a "sell" rating in a research note on Wednesday, March 6th. Benchmark began coverage on PENN Entertainment in a research note on Tuesday, April 16th. They issued a "hold" rating for the company. Truist Financial upgraded PENN Entertainment from a "hold" rating to a "buy" rating and set a $23.00 price target for the company in a report on Tuesday, April 23rd. Finally, Macquarie cut their price objective on PENN Entertainment from $35.00 to $33.00 and set an "outperform" rating on the stock in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, PENN Entertainment presently has an average rating of "Moderate Buy" and an average price target of $29.13.

PENN Entertainment Price Performance

Shares of PENN traded up $0.17 during trading hours on Monday, hitting $17.03. The stock had a trading volume of 4,442,434 shares, compared to its average volume of 5,668,274. PENN Entertainment has a 52 week low of $15.88 and a 52 week high of $31.63. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -4.81 and a beta of 2.06. The company's fifty day moving average is $17.58 and its two-hundred day moving average is $21.32. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The firm had revenue of $1.40 billion for 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%. On average, analysts anticipate that PENN Entertainment will post -0.9 EPS for the current year.

Institutional Investors Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in PENN. K.J. Harrison & Partners Inc acquired a new position in shares of PENN Entertainment during the 1st quarter worth approximately $934,000. Osborne Partners Capital Management LLC increased its holdings in PENN Entertainment by 4.5% during the first quarter. Osborne Partners Capital Management LLC now owns 119,395 shares of the company's stock worth $2,174,000 after buying an additional 5,167 shares during the last quarter. Hedges Asset Management LLC raised its position in PENN Entertainment by 10.3% during the first quarter. Hedges Asset Management LLC now owns 220,450 shares of the company's stock worth $4,014,000 after acquiring an additional 20,500 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in PENN Entertainment by 65.6% in the first quarter. Assenagon Asset Management S.A. now owns 342,539 shares of the company's stock valued at $6,238,000 after acquiring an additional 135,697 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in PENN Entertainment by 7.6% in the first quarter. Amalgamated Bank now owns 102,277 shares of the company's stock valued at $1,862,000 after acquiring an additional 7,229 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

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.