PENN Entertainment (NASDAQ:PENN) Receives “Hold” Rating from Benchmark

Benchmark reissued their hold rating on shares of PENN Entertainment (NASDAQ:PENN) in a research report report published on Friday, Benzinga reports.

Several other brokerages have also recently issued reports on PENN. Morgan Stanley increased their price objective 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. Mizuho raised their price objective on shares of PENN Entertainment from $29.00 to $32.00 and gave the stock a buy rating in a research report on Friday. Canaccord Genuity Group reduced 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 note on Monday, April 29th. Needham & Company LLC reaffirmed a buy rating and set a $32.00 price objective on shares of PENN Entertainment in a report on Thursday. Finally, Craig Hallum lowered their price target on shares of PENN Entertainment from $25.00 to $20.00 and set a hold rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment currently has a consensus rating of Hold and an average price target of $26.93.

PENN Entertainment Trading Up 0.8 %

NASDAQ:PENN traded up $0.12 during trading hours on Friday, reaching $15.13. 8,572,736 shares of the stock were exchanged, compared to its average volume of 6,675,829. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $29.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The business has a 50-day moving average of $17.44 and a two-hundred day moving average of $21.16. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -2.03 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last announced its 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). The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.39%. On average, equities analysts predict that PENN Entertainment will post -0.9 EPS for the current year.

Hedge Funds Weigh In On PENN Entertainment

Several large investors have recently added to or reduced their stakes in PENN. Norges Bank acquired a new position in shares of PENN Entertainment during the 4th quarter valued at about $42,758,000. ING Groep NV acquired a new position in shares of PENN Entertainment in the 4th quarter valued at $32,556,000. Kettle Hill Capital Management LLC acquired a new position in shares of PENN Entertainment in the 3rd quarter valued at $19,792,000. Sei Investments Co. increased its holdings in shares of PENN Entertainment by 52.8% during the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after buying an additional 725,221 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of PENN Entertainment in the 4th quarter worth $16,341,000. 91.69% of the stock is currently owned by hedge funds and other 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.