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

Needham & Company LLC reaffirmed their buy rating on shares of PENN Entertainment (NASDAQ:PENN) in a report issued on Friday, Benzinga reports. They currently have a $33.00 price target on the stock.

A number of other analysts also recently commented on PENN. Craig Hallum downgraded PENN Entertainment from a buy rating to a hold rating and dropped their price objective for the stock from $56.00 to $30.00 in a research note on Thursday, August 10th. Canaccord Genuity Group dropped their price objective on PENN Entertainment from $44.00 to $38.00 and set a buy rating on the stock in a research note on Thursday, August 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on PENN Entertainment from $30.00 to $29.00 in a research note on Thursday, August 10th. Capital One Financial assumed coverage on PENN Entertainment in a research note on Thursday, October 12th. They issued an equal weight rating and a $25.00 price objective on the stock. Finally, Truist Financial dropped their price objective on PENN Entertainment from $30.00 to $25.00 and set a hold rating on the stock in a research note on Wednesday, October 18th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $33.67.

PENN Entertainment Trading Up 6.8 %

Shares of PENN stock opened at $26.25 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.41 and a current ratio of 1.42. PENN Entertainment has a 1 year low of $18.35 and a 1 year high of $36.66. The stock has a fifty day moving average of $21.96 and a two-hundred day moving average of $23.82. The firm has a market capitalization of $3.98 billion, a PE ratio of -23.03, a price-to-earnings-growth ratio of 1.58 and a beta of 2.13.

Insider Activity

In other PENN Entertainment news, CFO Felicia Hendrix purchased 11,162 shares of the stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average price of $22.41 per share, for a total transaction of $250,140.42. Following the completion of the acquisition, the chief financial officer now owns 27,975 shares of the company’s stock, valued at approximately $626,919.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jane Scaccetti bought 4,400 shares of the stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $22.83 per share, for a total transaction of $100,452.00. Following the completion of the purchase, the director now directly owns 63,414 shares of the company’s stock, valued at approximately $1,447,741.62. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Felicia Hendrix bought 11,162 shares of the stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $22.41 per share, for a total transaction of $250,140.42. Following the purchase, the chief financial officer now directly owns 27,975 shares of the company’s stock, valued at $626,919.75. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp purchased a new position in PENN Entertainment in the second quarter valued at about $27,000. Signaturefd LLC boosted its stake in shares of PENN Entertainment by 58.0% during the 1st quarter. Signaturefd LLC now owns 962 shares of the company’s stock worth $29,000 after acquiring an additional 353 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of PENN Entertainment during the 3rd quarter worth about $29,000. TCI Wealth Advisors Inc. boosted its stake in shares of PENN Entertainment by 20,040.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,007 shares of the company’s stock worth $30,000 after acquiring an additional 1,002 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of PENN Entertainment by 2,528.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company’s stock worth $32,000 after acquiring an additional 1,264 shares in the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.

About PENN Entertainment

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet Sportbook and Casino.