PENN Entertainment (NASDAQ:PENN) Reaches New 52-Week Low – Should You Sell?

PENN Entertainment, Inc. (NASDAQ:PENN)’s stock price reached a new 52-week low on Friday . The stock traded as low as $13.25 and last traded at $13.80, with a volume of 1793734 shares trading hands. The stock had previously closed at $15.45.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Needham & Company LLC cut their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company raised their target price on PENN Entertainment from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Stifel Nicolaus dropped their price target on PENN Entertainment from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Tuesday, March 18th. Mizuho raised their price objective on PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Finally, Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Monday, March 3rd. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, PENN Entertainment has an average rating of “Hold” and a consensus price target of $23.56.

PENN Entertainment Stock Down 7.5 %

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a 50-day simple moving average of $19.25 and a 200-day simple moving average of $19.49. The firm has a market capitalization of $2.19 billion, a PE ratio of -4.03, a P/E/G ratio of 1.55 and a beta of 1.96.

Institutional Investors Weigh In On PENN Entertainment

Several institutional investors have recently added to or reduced their stakes in PENN. IFP Advisors Inc increased its stake in shares of PENN Entertainment by 201.5% in the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after purchasing an additional 1,052 shares in the last quarter. Modus Advisors LLC bought a new stake in PENN Entertainment during the 4th quarter valued at $63,000. Lee Danner & Bass Inc. purchased a new stake in shares of PENN Entertainment during the fourth quarter worth $92,000. KBC Group NV boosted its holdings in shares of PENN Entertainment by 36.5% in the fourth quarter. KBC Group NV now owns 5,501 shares of the company’s stock worth $109,000 after acquiring an additional 1,470 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of PENN Entertainment by 914.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company’s stock valued at $119,000 after purchasing an additional 5,852 shares in the last quarter. 91.69% of the stock is 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.