PENN Entertainment (NASDAQ:PENN) Price Target Cut to $22.00

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

Other equities research analysts have also recently issued reports about the stock. Truist Financial raised shares of PENN Entertainment from a hold rating to a buy rating and set a $23.00 price target on the stock in a research report on Tuesday, April 23rd. Canaccord Genuity Group cut their price target on shares of PENN Entertainment from $32.00 to $28.00 and set a buy rating on the stock in a research report on Monday, April 29th. Needham & Company LLC reissued a buy rating and set a $32.00 price target on shares of PENN Entertainment in a research report on Thursday. JMP Securities restated a market perform rating on shares of PENN Entertainment in a research note on Tuesday, April 23rd. Finally, Macquarie lowered their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, PENN Entertainment currently has an average rating of Hold and an average price target of $25.92.

PENN Entertainment Trading Down 1.5 %

Shares of PENN traded down $0.23 during trading hours on Friday, reaching $14.90. The stock had a trading volume of 359,927 shares, compared to its average volume of 5,856,076. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. PENN Entertainment has a 52 week low of $13.50 and a 52 week high of $29.38. The firm has a 50-day moving average of $17.44 and a 200 day moving average of $21.17. The company has a market cap of $2.27 billion, a P/E ratio of -2.03 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last released its earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. On average, sell-side analysts expect that PENN Entertainment will post -0.9 earnings per share for the current fiscal year.

Institutional Trading of PENN Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in PENN. Huntington National Bank lifted its holdings in shares of PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after acquiring an additional 1,072 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of PENN Entertainment during the 4th quarter worth approximately $32,000. Lindbrook Capital LLC lifted its stake in PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after purchasing an additional 553 shares during the last quarter. Neo Ivy Capital Management bought a new position in PENN Entertainment in the 4th quarter valued at approximately $40,000. Finally, Signaturefd LLC lifted its stake in PENN Entertainment by 60.8% in the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after purchasing an additional 727 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Company Profile

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.