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

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have received an average rating of “Moderate Buy” from the eighteen ratings firms that are covering the stock, Marketbeat 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 target price among brokers that have updated their coverage on the stock in the last year is $23.50.

PENN has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Friday, November 8th. Stifel Nicolaus raised their target price on shares of PENN Entertainment from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Tuesday. Morgan Stanley cut their price target on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, October 22nd. Truist Financial lowered their price objective on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Friday, January 17th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PENN. Janus Henderson Group PLC grew its holdings in PENN Entertainment by 244.7% during the 3rd quarter. Janus Henderson Group PLC now owns 249,106 shares of the company’s stock valued at $4,697,000 after buying an additional 176,844 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of PENN Entertainment by 84.7% during the third quarter. Quantbot Technologies LP now owns 208,094 shares of the company’s stock valued at $3,925,000 after acquiring an additional 95,423 shares during the last quarter. Verition Fund Management LLC increased its position in PENN Entertainment by 367.2% during the 3rd quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock worth $8,543,000 after purchasing an additional 356,029 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in PENN Entertainment by 8.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company’s stock valued at $11,851,000 after purchasing an additional 46,209 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in PENN Entertainment by 1,051.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company’s stock valued at $26,809,000 after purchasing an additional 1,297,976 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Stock Up 1.3 %

PENN Entertainment stock opened at $22.73 on Friday. The stock has a 50 day moving average of $19.86 and a two-hundred day moving average of $19.55. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $23.08. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -6.40, a PEG 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.

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.