PENN Entertainment (NASDAQ:PENN) Earns “Outperform” Rating from Macquarie

PENN Entertainment (NASDAQ:PENN)‘s stock had its “outperform” rating restated by equities researchers at Macquarie in a research note issued on Friday,Benzinga reports. They currently have a $26.00 price objective on the stock. Macquarie’s price target indicates a potential upside of 20.87% from the company’s previous close.

Several other research firms have also recently commented on PENN. Susquehanna lowered their target price on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a research report on Monday, November 4th. Bank of America assumed coverage on shares of PENN Entertainment in a report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. raised shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their target price for the company from $19.00 to $27.00 in a research note on Friday, December 13th. Jefferies Financial Group upped their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Finally, Stifel Nicolaus raised their price objective on shares of PENN Entertainment from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.38.

PENN Entertainment Price Performance

NASDAQ PENN opened at $21.51 on Friday. The company has a 50-day moving average price of $20.29 and a two-hundred day moving average price of $19.78. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -6.06, a price-to-earnings-growth ratio of 1.55 and a beta of 2.09. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a 52 week low of $13.50 and a 52 week high of $23.08.

Institutional Trading of PENN Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of the stock. 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 acquiring an additional 3,057 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in PENN Entertainment during the 3rd quarter valued at $45,000. Nisa Investment Advisors LLC lifted its holdings in shares of PENN Entertainment by 4.0% in the third quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company’s stock valued at $328,000 after purchasing an additional 665 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of PENN Entertainment by 0.9% in the third quarter. New York State Teachers Retirement System now owns 186,900 shares of the company’s stock valued at $3,525,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of PENN Entertainment by 82.0% during the third quarter. Harbor Capital Advisors Inc. now owns 551,733 shares of the company’s stock valued at $10,406,000 after buying an additional 248,644 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.