PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Rating of “Moderate Buy” by Brokerages

PENN Entertainment, Inc. (NASDAQ:PENN) has earned an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $23.56.

Several research analysts recently weighed in on the company. Jefferies Financial Group raised their target price on PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a report on Thursday, January 16th. Needham & Company LLC decreased their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. StockNews.com upgraded PENN Entertainment from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised PENN Entertainment from a “neutral” rating to an “overweight” rating and upped their target price for the company from $19.00 to $27.00 in a report on Friday, December 13th.

PENN Entertainment Stock Performance

PENN opened at $14.29 on Friday. PENN Entertainment has a 1-year low of $13.25 and a 1-year high of $23.08. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -4.03, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. The business has a 50 day moving average price of $19.25 and a two-hundred day moving average price of $19.49. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. M&T Bank Corp boosted its position in PENN Entertainment by 4.2% during the third quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock worth $235,000 after purchasing an additional 497 shares during the period. Westside Investment Management Inc. grew its stake in PENN Entertainment by 3.2% in the 4th quarter. Westside Investment Management Inc. now owns 19,849 shares of the company’s stock valued at $393,000 after buying an additional 620 shares during the last quarter. XTX Topco Ltd raised its holdings in PENN Entertainment by 2.8% in the 3rd quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock worth $441,000 after acquiring an additional 641 shares during the period. CIBC Asset Management Inc lifted its position in PENN Entertainment by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 14,774 shares of the company’s stock worth $293,000 after acquiring an additional 813 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after acquiring an additional 1,052 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.