PENN Entertainment (NASDAQ:PENN) PT Lowered to $22.00

PENN Entertainment (NASDAQ:PENN) had its target price trimmed by Barclays from $26.00 to $22.00 in a research note released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages 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 report on Tuesday, April 23rd. Canaccord Genuity Group dropped their target price on shares of PENN Entertainment from $32.00 to $28.00 and set a buy rating for the company in a research report on Monday, April 29th. Macquarie decreased their price target on shares of PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a report on Friday, February 16th. StockNews.com lowered shares of PENN Entertainment from a hold rating to a sell rating in a research report on Wednesday, March 6th. Finally, JMP Securities restated a market perform rating on shares of PENN Entertainment in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $26.93.

PENN Entertainment Price Performance

Shares of PENN stock traded up $0.12 during trading hours on Friday, reaching $15.13. The stock had a trading volume of 8,572,736 shares, compared to its average volume of 6,675,829. The stock’s fifty day simple moving average is $17.44 and its 200 day simple moving average is $21.16. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $2.30 billion, a PE ratio of -2.03 and a beta of 2.06. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $29.38.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.39%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities research analysts predict that PENN Entertainment will post -0.9 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Huntington National Bank raised its holdings in PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after buying an additional 1,072 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of PENN Entertainment in the fourth quarter valued at about $32,000. Lindbrook Capital LLC raised its stake in shares of PENN Entertainment by 57.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after acquiring an additional 553 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of PENN Entertainment during the fourth quarter worth about $40,000. Finally, Signaturefd LLC grew its stake in shares of PENN Entertainment by 60.8% in the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock worth $44,000 after purchasing an additional 727 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

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.