PENN Entertainment (NASDAQ:PENN) Rating Reiterated by Needham & Company LLC

PENN Entertainment (NASDAQ:PENN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They currently have a $32.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 111.57% from the stock’s current price.

A number of other research firms have also weighed in on PENN. Barclays dropped their target price on PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Truist Financial upgraded PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday, April 23rd. Macquarie dropped their price target on 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 PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Finally, Morgan Stanley lifted their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.93.

PENN Entertainment Stock Up 0.8 %

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

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share 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 company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, research analysts expect that PENN Entertainment will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of PENN Entertainment

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