PENN Entertainment (NASDAQ:PENN) Price Target Raised to $22.00

PENN Entertainment (NASDAQ:PENN) had its price target raised by Jefferies Financial Group from $21.00 to $22.00 in a report released on Friday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

A number of other equities analysts have also recently commented on PENN. Craig Hallum reaffirmed a “buy” rating and issued a $30.00 price target on shares of PENN Entertainment in a research note on Tuesday, October 8th. Mizuho reduced their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and upped their target price for the company from $19.00 to $27.00 in a report on Friday, December 13th. Benchmark restated a “hold” rating on shares of PENN Entertainment in a report on Friday, November 8th. Finally, Truist Financial cut their target price on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $23.44.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock opened at $18.76 on Friday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The business’s 50 day simple moving average is $19.99 and its two-hundred day simple moving average is $19.32. The stock has a market capitalization of $2.86 billion, a P/E ratio of -5.28 and a beta of 2.08. PENN Entertainment has a one year low of $13.50 and a one year high of $25.53.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. Analysts forecast that PENN Entertainment will post -1.55 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale purchased a new position in shares of PENN Entertainment during the third quarter valued at approximately $45,000. GAMMA Investing LLC raised its holdings in shares of PENN Entertainment by 88.5% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock valued at $51,000 after purchasing an additional 1,275 shares during the last quarter. Quest Partners LLC purchased a new position in shares of PENN Entertainment during the third quarter valued at approximately $56,000. Modus Advisors LLC purchased a new position in shares of PENN Entertainment during the fourth quarter valued at approximately $63,000. Finally, International Assets Investment Management LLC raised its holdings in shares of PENN Entertainment by 1,634.8% during the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after purchasing an additional 3,057 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.