PENN Entertainment (NASDAQ:PENN) Price Target Cut to $20.00 by Analysts at Craig Hallum

PENN Entertainment (NASDAQ:PENN) had its price target lowered by Craig Hallum from $25.00 to $20.00 in a research note published on Friday, Benzinga reports. Craig Hallum currently has a hold rating on the stock.

Several other research analysts have also commented on the company. Canaccord Genuity Group decreased their target price on PENN Entertainment from $32.00 to $28.00 and set a buy rating for the company in a research report on Monday, April 29th. Stifel Nicolaus dropped their target price on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a report on Friday, February 16th. Needham & Company LLC reaffirmed a buy rating and issued a $32.00 price target on shares of PENN Entertainment in a report on Thursday. StockNews.com downgraded PENN Entertainment from a hold rating to a sell rating in a research note on Wednesday, March 6th. Finally, Morgan Stanley upped their target price on PENN Entertainment from $21.00 to $22.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. One 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. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $26.93.

PENN Entertainment Stock Up 0.8 %

Shares of PENN stock traded up $0.12 on Friday, hitting $15.13. The stock had a trading volume of 8,572,736 shares, compared to its average volume of 6,675,829. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $29.38. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -2.03 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. The stock’s 50 day moving average is $17.44 and its 200-day moving average is $21.16.

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

Institutional Investors Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kettle Hill Capital Management LLC purchased a new stake in shares of PENN Entertainment in the third quarter valued at $19,792,000. Source Financial Advisors LLC increased its stake in shares of PENN Entertainment by 1,061.1% in the third quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock worth $7,404,000 after acquiring an additional 294,845 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of PENN Entertainment in the third quarter worth $1,750,000. Sei Investments Co. increased its stake in shares of PENN Entertainment by 13.9% in the third quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock worth $31,510,000 after acquiring an additional 167,445 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of PENN Entertainment by 20.0% in the fourth quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock worth $140,000 after acquiring an additional 896 shares during the last quarter. Institutional investors and hedge funds 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.