Needham & Company LLC Cuts PENN Entertainment (NASDAQ:PENN) Price Target to $25.00

PENN Entertainment (NASDAQ:PENN) had its target price trimmed by Needham & Company LLC from $26.00 to $25.00 in a research note published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the company. StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Friday, January 17th. Susquehanna cut their price objective on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group increased their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.38.

PENN Entertainment Trading Up 5.5 %

Shares of NASDAQ PENN opened at $21.51 on Friday. The stock’s 50 day moving average price is $20.29 and its two-hundred day moving average price is $19.79. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $23.08. The stock has a market capitalization of $3.28 billion, a P/E ratio of -6.06, a PEG ratio of 1.55 and a beta of 2.09. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

Institutional Trading of PENN Entertainment

Several large investors have recently added to or reduced their stakes in PENN. IFP Advisors Inc boosted its stake in PENN Entertainment by 201.5% during the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after purchasing an additional 1,052 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in PENN Entertainment during the 3rd quarter valued at $45,000. Quest Partners LLC bought a new position in PENN Entertainment during the 3rd quarter valued at $56,000. International Assets Investment Management LLC boosted its stake in PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after purchasing an additional 3,057 shares in the last quarter. Finally, Modus Advisors LLC bought a new position in PENN Entertainment during the 4th quarter valued at $63,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.