Stifel Nicolaus Forecasts Strong Price Appreciation for PENN Entertainment (NASDAQ:PENN) Stock

PENN Entertainment (NASDAQ:PENN) had its price objective upped by stock analysts at Stifel Nicolaus from $20.00 to $21.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price points to a potential downside of 4.15% from the stock’s previous close.

PENN has been the subject of a number of other research reports. Morgan Stanley cut their price target on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 22nd. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Barclays lowered their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Mizuho cut their price objective on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group increased their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.50.

PENN Entertainment Price Performance

Shares of NASDAQ PENN opened at $21.91 on Tuesday. The firm’s 50-day moving average price is $19.84 and its 200-day moving average price is $19.48. The firm has a market capitalization of $3.34 billion, a P/E ratio of -6.17, a P/E/G ratio of 1.53 and a beta of 2.09. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $23.81.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. Creative Planning boosted its holdings in shares of PENN Entertainment by 16.2% in the 2nd quarter. Creative Planning now owns 14,775 shares of the company’s stock worth $286,000 after purchasing an additional 2,057 shares in the last quarter. GAMMA Investing LLC lifted its position in PENN Entertainment by 88.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after buying an additional 1,275 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in PENN Entertainment in the third quarter worth approximately $213,000. Raymond James & Associates grew its position in PENN Entertainment by 159.1% during the third quarter. Raymond James & Associates now owns 403,699 shares of the company’s stock valued at $7,614,000 after acquiring an additional 247,873 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of PENN Entertainment by 1,634.8% during the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after acquiring an additional 3,057 shares in the last quarter. 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.