PENN Entertainment, Inc. (NASDAQ:PENN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given an average rating of “Moderate Buy” by the twenty research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $22.7778.

A number of equities analysts recently weighed in on PENN shares. Bank of America boosted their price target on shares of PENN Entertainment from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Stifel Nicolaus increased their price objective on shares of PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, June 12th. Capital One Financial raised shares of PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Thursday, July 23rd. The Goldman Sachs Group started coverage on PENN Entertainment in a report on Friday, June 26th. They set a “buy” rating and a $26.00 target price on the stock. Finally, Citizens Jmp upped their price target on PENN Entertainment from $24.00 to $26.00 and gave the company a “market outperform” rating in a research report on Thursday, July 16th.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of PENN Entertainment during the 4th quarter worth $36,000. IFP Advisors Inc boosted its position in shares of PENN Entertainment by 76.2% during the 4th quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock valued at $41,000 after acquiring an additional 1,196 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of PENN Entertainment in the fourth quarter valued at about $47,000. Triumph Capital Management purchased a new stake in shares of PENN Entertainment in the third quarter valued at about $54,000. Finally, Hantz Financial Services Inc. increased its position in PENN Entertainment by 385.1% during the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock worth $55,000 after purchasing an additional 2,954 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Price Performance

Shares of NASDAQ PENN opened at $20.53 on Friday. The firm has a 50-day simple moving average of $20.61 and a 200-day simple moving average of $16.77. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -3.06, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.94. PENN Entertainment has a 52 week low of $11.65 and a 52 week high of $22.36.

About PENN Entertainment

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.