Brokerages Set PENN Entertainment, Inc. (NASDAQ:PENN) Target Price at $22.77

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given an average rating of “Hold” by the eighteen analysts that are covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $22.97.

Several equities research analysts have recently commented on the stock. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research report on Monday, March 3rd. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Susquehanna decreased their price objective on PENN Entertainment from $26.00 to $23.00 and set a “positive” rating for the company in a research note on Tuesday, April 15th. Canaccord Genuity Group cut their target price on PENN Entertainment from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company upped their target price on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd.

PENN Entertainment Trading Up 1.2 %

PENN stock opened at $15.71 on Thursday. The business has a fifty day moving average of $16.16 and a 200-day moving average of $18.82. The company has a market cap of $2.37 billion, a P/E ratio of -4.43, a PEG ratio of 1.55 and a beta of 1.81. PENN Entertainment has a twelve month low of $13.25 and a twelve month 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.

Institutional Trading of PENN Entertainment

Hedge funds have recently added to or reduced their stakes in the company. DME Capital Management LP lifted its holdings in shares of PENN Entertainment by 2.3% during the fourth quarter. DME Capital Management LP now owns 5,748,440 shares of the company’s stock worth $113,934,000 after buying an additional 127,670 shares in the last quarter. Invesco Ltd. boosted its holdings in PENN Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 3,882,009 shares of the company’s stock valued at $76,941,000 after purchasing an additional 848,066 shares during the period. Geode Capital Management LLC grew its position in shares of PENN Entertainment by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 2,500,342 shares of the company’s stock worth $49,572,000 after purchasing an additional 152,791 shares in the last quarter. Kettle Hill Capital Management LLC increased its holdings in shares of PENN Entertainment by 43.1% during the fourth quarter. Kettle Hill Capital Management LLC now owns 1,801,787 shares of the company’s stock worth $35,711,000 after purchasing an additional 542,585 shares during the period. Finally, Contrarius Group Holdings Ltd acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at approximately $34,994,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.