PENN Entertainment, Inc. (NASDAQ:PENN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been given a consensus rating of “Moderate Buy” by the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.69.

Several analysts recently issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a report on Monday, March 3rd. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Stifel Nicolaus upped their price target on shares of PENN Entertainment from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Tuesday, February 11th. Needham & Company LLC decreased their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, February 28th. 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 research report on Friday, January 3rd.

PENN Entertainment Trading Up 2.3 %

PENN opened at $16.93 on Wednesday. The stock has a market capitalization of $2.59 billion, a PE ratio of -4.77, a P/E/G ratio of 1.55 and a beta of 2.19. The firm’s fifty day moving average price is $20.31 and its 200 day moving average price is $19.75. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $23.08.

Institutional Trading of PENN Entertainment

A number of hedge funds have recently bought and sold shares of PENN. State of New Jersey Common Pension Fund D purchased a new stake in PENN Entertainment during the third quarter valued at about $1,921,000. Wolverine Asset Management LLC lifted its position in shares of PENN Entertainment by 112.9% in the third quarter. Wolverine Asset Management LLC now owns 57,745 shares of the company’s stock worth $1,089,000 after purchasing an additional 30,617 shares in the last quarter. Versor Investments LP purchased a new stake in shares of PENN Entertainment in the third quarter worth approximately $571,000. Entropy Technologies LP purchased a new stake in shares of PENN Entertainment in the third quarter worth approximately $586,000. Finally, Natixis Advisors LLC lifted its position in shares of PENN Entertainment by 25.3% in the third quarter. Natixis Advisors LLC now owns 303,655 shares of the company’s stock worth $5,727,000 after purchasing an additional 61,285 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.