PENN Entertainment (NASDAQ:PENN) Price Target Raised to $20.00 at Stifel Nicolaus

PENN Entertainment (NASDAQ:PENN) had its price objective upped by Stifel Nicolaus from $19.00 to $20.00 in a report published on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

PENN has been the subject of several other reports. Mizuho boosted their price objective on PENN Entertainment from $29.00 to $32.00 and gave the company a buy rating in a report on Friday, May 3rd. Wells Fargo & Company lowered their target price on PENN Entertainment from $21.00 to $18.00 and set an equal weight rating for the company in a report on Friday, May 3rd. Bank of America lowered PENN Entertainment from a buy rating to a neutral rating and lowered their target price for the company from $28.00 to $17.50 in a report on Monday, May 13th. Barclays lowered their target price on PENN Entertainment from $26.00 to $22.00 and set an overweight rating for the company in a report on Friday, May 3rd. Finally, Truist Financial upped their target price on PENN Entertainment from $23.00 to $25.00 and gave the company a buy rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $23.83.

PENN Entertainment Stock Down 2.6 %

PENN Entertainment stock traded down $0.48 during midday trading on Friday, hitting $18.24. The stock had a trading volume of 7,791,049 shares, compared to its average volume of 4,163,954. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. The stock has a market cap of $2.78 billion, a P/E ratio of -2.45 and a beta of 2.11. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $27.20. The business has a fifty day moving average price of $18.68 and a 200 day moving average price of $18.26.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.09. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. PENN Entertainment’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. Research analysts predict that PENN Entertainment will post -1.35 EPS for the current year.

Insiders Place Their Bets

In related news, Director David A. Handler acquired 40,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average price of $14.94 per share, for a total transaction of $597,600.00. Following the transaction, the director now owns 283,450 shares of the company’s stock, valued at $4,234,743. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 2.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after purchasing an additional 1,009 shares during the period. Harbor Investment Advisory LLC acquired a new stake in PENN Entertainment during the 4th quarter valued at $32,000. Lindbrook Capital LLC increased its stake in shares of PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after acquiring an additional 553 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of PENN Entertainment in the fourth quarter worth $40,000. Finally, Rakuten Securities Inc. acquired a new position in shares of PENN Entertainment in the fourth quarter worth $78,000. Institutional investors and hedge funds 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.