Needham & Company LLC restated their buy rating on shares of PENN Entertainment (NASDAQ:PENN - Free Report) in a report issued on Thursday, Benzinga reports. Needham & Company LLC currently has a $32.00 price objective on the stock.
Several other research firms have also commented on PENN. Stifel Nicolaus decreased their target price 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. JMP Securities reissued a market perform rating on shares of PENN Entertainment in a report on Tuesday, April 23rd. Mizuho assumed coverage on shares of PENN Entertainment in a report on Tuesday, March 26th. They set a buy rating and a $29.00 price target on the stock. Benchmark assumed coverage on shares of PENN Entertainment in a report on Tuesday, April 16th. They set a hold rating on the stock. Finally, Canaccord Genuity Group decreased their price target on shares of PENN Entertainment from $32.00 to $28.00 and set a buy rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $29.13.
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PENN Entertainment Stock Performance
NASDAQ:PENN traded down $1.44 during mid-day trading on Thursday, reaching $15.00. 23,748,677 shares of the company's stock were exchanged, compared to its average volume of 5,890,641. PENN Entertainment has a one year low of $13.50 and a one year high of $31.02. The firm has a market capitalization of $2.28 billion, a PE ratio of -4.12 and a beta of 2.06. The business's fifty day simple moving average is $17.48 and its two-hundred day simple moving average is $21.20. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last released 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). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.54 billion. Analysts anticipate that PENN Entertainment will post -0.9 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kettle Hill Capital Management LLC acquired a new position in shares of PENN Entertainment during the 3rd quarter valued at $19,792,000. Source Financial Advisors LLC increased its stake in PENN Entertainment by 1,061.1% during the 3rd quarter. Source Financial Advisors LLC now owns 322,633 shares of the company's stock valued at $7,404,000 after purchasing an additional 294,845 shares in the last quarter. Fred Alger Management LLC bought a new stake in PENN Entertainment during the 3rd quarter valued at $1,750,000. Sei Investments Co. increased its stake in PENN Entertainment by 13.9% during the 3rd quarter. Sei Investments Co. now owns 1,372,982 shares of the company's stock valued at $31,510,000 after purchasing an additional 167,445 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in PENN Entertainment by 20.0% during the 4th quarter. Blue Trust Inc. now owns 5,374 shares of the company's stock valued at $140,000 after purchasing an additional 896 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.
About PENN Entertainment
(
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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.
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