PENN Entertainment (NASDAQ:PENN) Price Target Cut to $18.00 by Analysts at Wells Fargo & Company

PENN Entertainment (NASDAQ:PENN) had its price objective trimmed by Wells Fargo & Company from $21.00 to $18.00 in a report issued on Friday, Benzinga reports. The firm currently has an equal weight rating on the stock.

PENN has been the topic of several other research reports. StockNews.com downgraded PENN Entertainment from a hold rating to a sell rating in a report on Wednesday, March 6th. Canaccord Genuity Group cut their target price on shares of PENN Entertainment from $32.00 to $28.00 and set a buy rating for the company in a research report on Monday, April 29th. Stifel Nicolaus lowered their price target 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. Craig Hallum dropped their target price on shares of PENN Entertainment from $25.00 to $20.00 and set a hold rating on the stock in a research report on Friday. Finally, JMP Securities reissued a market perform rating on shares of PENN Entertainment in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $26.93.

PENN Entertainment Stock Up 0.8 %

NASDAQ:PENN traded up $0.12 during trading hours on Friday, hitting $15.13. 8,572,736 shares of the stock traded hands, compared to its average volume of 6,675,829. The firm has a 50 day moving average price of $17.44 and a 200 day moving average price of $21.16. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -2.03 and a beta of 2.06. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $29.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.39%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. Equities research analysts anticipate that PENN Entertainment will post -0.9 earnings per share for the current year.

Institutional Trading of PENN Entertainment

Several hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP boosted its position in PENN Entertainment by 324.7% in the 1st quarter. GSA Capital Partners LLP now owns 109,096 shares of the company’s stock valued at $1,987,000 after buying an additional 83,407 shares during the last quarter. Graypoint LLC acquired a new position in shares of PENN Entertainment during the first quarter valued at $487,000. Hanlon Investment Management Inc. boosted its holdings in PENN Entertainment by 13.9% in the first quarter. Hanlon Investment Management Inc. now owns 89,882 shares of the company’s stock valued at $1,637,000 after acquiring an additional 11,000 shares during the last quarter. Capstone Investment Advisors LLC increased its position in PENN Entertainment by 281.4% in the first quarter. Capstone Investment Advisors LLC now owns 59,049 shares of the company’s stock worth $1,075,000 after purchasing an additional 43,566 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in PENN Entertainment by 603.3% during the 1st quarter. BNP Paribas Financial Markets now owns 93,384 shares of the company’s stock worth $1,701,000 after purchasing an additional 80,106 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

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.