PENN Entertainment, Inc. (NASDAQ:PENN) Receives $23.56 Consensus Target Price from Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $23.56.

PENN has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price objective on shares of PENN Entertainment from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company raised 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. Macquarie reiterated an “outperform” rating and set a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, February 28th. Mizuho boosted their price target on PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group upped their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, January 3rd.

PENN Entertainment Price Performance

PENN opened at $14.69 on Friday. The company’s 50-day simple moving average is $18.57 and its two-hundred day simple moving average is $19.29. PENN Entertainment has a 52-week low of $13.25 and a 52-week high of $23.08. The stock has a market capitalization of $2.25 billion, a P/E ratio of -4.14, a P/E/G ratio of 1.55 and a beta of 1.96. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

Institutional Trading of PENN Entertainment

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in PENN Entertainment by 2,162.8% during the first quarter. GAMMA Investing LLC now owns 42,993 shares of the company’s stock valued at $701,000 after acquiring an additional 41,093 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in PENN Entertainment by 33.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 264,587 shares of the company’s stock valued at $5,244,000 after purchasing an additional 65,596 shares during the period. Tidal Investments LLC lifted its holdings in PENN Entertainment by 11.7% in the 4th quarter. Tidal Investments LLC now owns 16,626 shares of the company’s stock worth $330,000 after purchasing an additional 1,738 shares in the last quarter. Sender Co & Partners Inc. lifted its holdings in PENN Entertainment by 99.5% in the 4th quarter. Sender Co & Partners Inc. now owns 34,011 shares of the company’s stock worth $674,000 after purchasing an additional 16,967 shares in the last quarter. Finally, Shay Capital LLC purchased a new position in PENN Entertainment during the fourth quarter valued at $1,067,000. 91.69% of the stock is currently 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.