PENN Entertainment, Inc. (NASDAQ:PENN) Receives $23.56 Average PT from Brokerages

PENN Entertainment, Inc. (NASDAQ:PENN) has been given an average rating of “Moderate Buy” by the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $23.56.

Several analysts have weighed in on PENN shares. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research note on Monday, March 3rd. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Mizuho raised their target price on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Finally, Macquarie reaffirmed an “outperform” rating and set a $26.00 target price on shares of PENN Entertainment in a research note on Friday, February 28th.

Hedge Funds Weigh In On PENN Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc boosted its stake in PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after purchasing an additional 1,052 shares in the last quarter. Modus Advisors LLC bought a new position in shares of PENN Entertainment in the fourth quarter worth approximately $63,000. Lee Danner & Bass Inc. bought a new position in shares of PENN Entertainment in the fourth quarter worth approximately $92,000. KBC Group NV grew its holdings in shares of PENN Entertainment by 36.5% during the fourth quarter. KBC Group NV now owns 5,501 shares of the company’s stock valued at $109,000 after buying an additional 1,470 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in PENN Entertainment by 914.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company’s stock valued at $119,000 after acquiring an additional 5,852 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Price Performance

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

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.