PENN Entertainment (NASDAQ:PENN) Now Covered by Analysts at Benchmark

Stock analysts at Benchmark assumed coverage on shares of PENN Entertainment (NASDAQ:PENN) in a report issued on Tuesday, MarketBeat Ratings reports. The firm set a “hold” rating on the stock.

Several other equities research analysts also recently issued reports on PENN. Macquarie decreased their price target on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Stifel Nicolaus dropped their price objective on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Morgan Stanley upped their target price on PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com lowered PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, Truist Financial reduced their price objective on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.47.

PENN Entertainment Price Performance

Shares of PENN stock opened at $16.26 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The company has a market cap of $2.48 billion, a P/E ratio of -4.47 and a beta of 2.06. PENN Entertainment has a twelve month low of $15.88 and a twelve month high of $31.63. The business has a fifty day simple moving average of $18.24 and a 200 day simple moving average of $21.54.

PENN Entertainment (NASDAQ:PENN) last released its earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. On average, sell-side analysts forecast that PENN Entertainment will post -0.86 EPS for the current fiscal year.

Institutional Trading of PENN Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Stonebridge Capital Advisors LLC acquired a new position in shares of PENN Entertainment in the first quarter worth $50,000. Harbor Investment Advisory LLC purchased a new position in PENN Entertainment during the fourth quarter worth about $32,000. Money Concepts Capital Corp raised its holdings in PENN Entertainment by 85.4% during the fourth quarter. Money Concepts Capital Corp now owns 1,309 shares of the company’s stock worth $39,000 after purchasing an additional 603 shares in the last quarter. International Assets Investment Management LLC purchased a new position in PENN Entertainment in the third quarter valued at about $29,000. Finally, Quarry LP increased its holdings in PENN Entertainment by 95.1% in the second quarter. Quarry LP now owns 1,383 shares of the company’s stock valued at $33,000 after buying an additional 674 shares in the last quarter. 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.