PENN Entertainment (NASDAQ:PENN) Earns Hold Rating from Analysts at Benchmark

Benchmark began coverage on shares of PENN Entertainment (NASDAQ:PENN) in a research report released on Tuesday morning, MarketBeat reports. The firm issued a hold rating on the stock.

Several other equities analysts have also recently weighed in on PENN. Stifel Nicolaus lowered their price target on PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a report on Friday, February 16th. Mizuho initiated coverage on shares of PENN Entertainment in a research report on Tuesday, March 26th. They set a buy rating and a $29.00 price objective for the company. Truist Financial 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 research report on Friday, February 16th. Morgan Stanley lifted their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Finally, Macquarie lowered their price objective on PENN Entertainment from $35.00 to $33.00 and set an outperform rating for the company in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $30.47.

PENN Entertainment Trading Down 0.7 %

PENN Entertainment stock opened at $16.14 on Tuesday. The business’s 50 day simple moving average is $18.12 and its 200 day simple moving average is $21.51. PENN Entertainment has a 12 month low of $15.88 and a 12 month high of $31.63. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, research analysts expect that PENN Entertainment will post -0.86 EPS for the current fiscal year.

Institutional Trading of PENN Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of PENN Entertainment in the third quarter worth about $29,000. Huntington National Bank grew its stake in PENN Entertainment by 324.8% in 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 bought a new position in PENN Entertainment in the 4th quarter worth about $32,000. Quarry LP increased its position in shares of PENN Entertainment by 95.1% during the second quarter. Quarry LP now owns 1,383 shares of the company’s stock worth $33,000 after acquiring an additional 674 shares during the period. Finally, Tyler Stone Wealth Management bought a new stake in shares of PENN Entertainment during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.