Brokerages Set PENN Entertainment, Inc. (NASDAQ:PENN) PT at $23.69

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given a consensus rating of “Moderate Buy” by the eighteen research firms that are presently covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $23.56.

PENN has been the subject of a number of recent analyst reports. Needham & Company LLC decreased their price objective on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, February 28th. Wells Fargo & Company increased their price target on PENN Entertainment from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their price target for the company from $19.00 to $27.00 in a report on Friday, December 13th. Jefferies Financial Group upped their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Finally, Mizuho boosted their price target on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th.

Hedge Funds Weigh In On PENN Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc lifted its stake in PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after buying an additional 1,052 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of PENN Entertainment in the 3rd quarter valued at approximately $56,000. Modus Advisors LLC acquired a new position in PENN Entertainment in the 4th quarter worth approximately $63,000. Lee Danner & Bass Inc. purchased a new position in PENN Entertainment during the 4th quarter worth approximately $92,000. Finally, KBC Group NV raised its stake in PENN Entertainment by 36.5% during the 4th quarter. KBC Group NV now owns 5,501 shares of the company’s stock valued at $109,000 after purchasing an additional 1,470 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Trading Down 4.2 %

PENN Entertainment stock opened at $16.53 on Wednesday. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $23.08. 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 firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -4.66, a PEG ratio of 1.55 and a beta of 2.19. The firm has a 50-day moving average price of $20.06 and a two-hundred day moving average price of $19.68.

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.