PENN Entertainment (NASDAQ:PENN) Receives “Buy” Rating from Needham & Company LLC

PENN Entertainment (NASDAQ:PENN)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They currently have a $32.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 111.78% from the company’s current price.

A number of other equities research analysts also recently issued reports on PENN. Truist Financial upgraded PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, April 23rd. Morgan Stanley boosted their price target on PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Barclays cut their price target on PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Benchmark began coverage on PENN Entertainment in a research note on Tuesday, April 16th. They set a “hold” rating for the company. Finally, Macquarie cut their price target on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.13.

PENN Entertainment Trading Down 8.1 %

PENN stock traded down $1.33 on Thursday, reaching $15.11. The company’s stock had a trading volume of 17,724,833 shares, compared to its average volume of 5,815,982. The business has a fifty day simple moving average of $17.51 and a two-hundred day simple moving average of $21.24. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $31.02. The firm has a market cap of $2.29 billion, a PE ratio of -4.18 and a beta of 2.06. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. As a group, research analysts forecast that PENN Entertainment will post -0.9 EPS for the current year.

Institutional Trading of PENN Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of PENN. Norges Bank purchased a new stake in PENN Entertainment in the fourth quarter worth $42,758,000. ING Groep NV purchased a new position in shares of PENN Entertainment during the fourth quarter valued at $32,556,000. Kettle Hill Capital Management LLC purchased a new position in shares of PENN Entertainment during the third quarter valued at $19,792,000. Sei Investments Co. increased its stake in shares of PENN Entertainment by 52.8% during the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after buying an additional 725,221 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of PENN Entertainment during the fourth quarter valued at $16,341,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.