PENN Entertainment (NASDAQ:PENN) Price Target Cut to $26.00 by Analysts at Canaccord Genuity Group

PENN Entertainment (NASDAQ:PENN - Get Free Report) had its price target lowered by Canaccord Genuity Group from $28.00 to $26.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 59.02% from the stock's current price.

Several other research firms have also issued reports on PENN. Morgan Stanley lowered their price target on shares of PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Susquehanna reduced their price objective on PENN Entertainment from $26.00 to $23.00 and set a "positive" rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company boosted their target price on shares of PENN Entertainment from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. Mizuho increased their price target on PENN Entertainment from $24.00 to $25.00 and gave the company an "outperform" rating in a research report on Tuesday, March 4th. Finally, Benchmark restated a "hold" rating on shares of PENN Entertainment in a research note on Monday, March 3rd. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.97.

PENN Entertainment Trading Up 2.4 %

Shares of PENN stock traded up $0.38 during trading hours on Monday, hitting $16.35. 654,542 shares of the company's stock traded hands, compared to its average volume of 4,307,355. The stock has a market cap of $2.47 billion, a PE ratio of -4.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.96. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a 12 month low of $13.25 and a 12 month high of $23.08. The stock's 50 day simple moving average is $16.46 and its 200 day simple moving average is $18.88.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. DME Capital Management LP boosted its stake in PENN Entertainment by 2.3% during the fourth quarter. DME Capital Management LP now owns 5,748,440 shares of the company's stock valued at $113,934,000 after buying an additional 127,670 shares during the period. Invesco Ltd. boosted its position in shares of PENN Entertainment by 28.0% during the 4th quarter. Invesco Ltd. now owns 3,882,009 shares of the company's stock valued at $76,941,000 after acquiring an additional 848,066 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of PENN Entertainment by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 2,500,342 shares of the company's stock valued at $49,572,000 after acquiring an additional 152,791 shares during the last quarter. Kettle Hill Capital Management LLC grew its holdings in shares of PENN Entertainment by 43.1% during the fourth quarter. Kettle Hill Capital Management LLC now owns 1,801,787 shares of the company's stock worth $35,711,000 after purchasing an additional 542,585 shares in the last quarter. Finally, Contrarius Group Holdings Ltd bought a new position in shares of PENN Entertainment in the fourth quarter worth approximately $34,994,000. 91.69% of the stock is currently owned by hedge funds and other 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.

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