PENN Entertainment (NASDAQ:PENN) Reaches New 52-Week High – Should You Buy?

PENN Entertainment, Inc. (NASDAQ:PENN)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $23.08 and last traded at $22.67, with a volume of 350567 shares. The stock had previously closed at $22.44.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Friday, January 17th. Macquarie upped their price target on PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a research report on Friday, November 8th. Jefferies Financial Group upped their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company upped their price target on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment currently has a consensus rating of “Hold” and a consensus target price of $23.50.

PENN Entertainment Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The firm has a 50-day moving average of $19.86 and a 200-day moving average of $19.55. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -6.41, a P/E/G ratio of 1.53 and a beta of 2.09.

Institutional Investors Weigh In On PENN Entertainment

Several hedge funds have recently added to or reduced their stakes in PENN. Creative Planning boosted its holdings in PENN Entertainment by 16.2% in the second quarter. Creative Planning now owns 14,775 shares of the company’s stock valued at $286,000 after purchasing an additional 2,057 shares during the last quarter. GAMMA Investing LLC boosted its holdings in PENN Entertainment by 88.5% in 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. SeaCrest Wealth Management LLC purchased a new stake in PENN Entertainment in the third quarter valued at $213,000. Raymond James & Associates boosted its holdings in PENN Entertainment by 159.1% in the third quarter. Raymond James & Associates now owns 403,699 shares of the company’s stock valued at $7,614,000 after purchasing an additional 247,873 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in PENN Entertainment by 1,634.8% in 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.