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

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

A number of equities research analysts have issued reports on PENN shares. Wells Fargo & Company increased their target price on shares of PENN Entertainment from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Macquarie restated an “outperform” rating and issued a $26.00 target price on shares of PENN Entertainment in a research note on Friday, February 28th. Needham & Company LLC cut their price target on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Stifel Nicolaus reduced their price target on PENN Entertainment from $22.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Jefferies Financial Group increased their price objective on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, January 3rd.

Institutional Trading of PENN Entertainment

Several hedge funds have recently added to or reduced their stakes in the business. Contrarius Group Holdings Ltd bought a new position in PENN Entertainment in the 4th quarter worth approximately $34,994,000. Norges Bank bought a new position in PENN Entertainment during the fourth quarter worth $27,901,000. SG Americas Securities LLC acquired a new position in PENN Entertainment during the 4th quarter valued at $27,805,000. Raymond James Financial Inc. bought a new stake in PENN Entertainment in the 4th quarter valued at $17,804,000. Finally, Invesco Ltd. grew its position in PENN Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 3,882,009 shares of the company’s stock worth $76,941,000 after purchasing an additional 848,066 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

NASDAQ PENN opened at $16.53 on Wednesday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -4.66, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. The company has a 50 day simple moving average of $20.06 and a 200-day simple moving average of $19.68. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $23.08.

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.