PENN Entertainment (NASDAQ:PENN) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of PENN Entertainment (NASDAQ:PENN) from a sell rating to a hold rating in a research note issued to investors on Monday.

PENN has been the subject of a number of other reports. Needham & Company LLC lowered their price objective on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Friday. Susquehanna dropped their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a research report on Monday, November 4th. Macquarie reiterated an “outperform” rating and set a $26.00 price objective on shares of PENN Entertainment in a research report on Friday. Jefferies Financial Group lifted their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Finally, Bank of America began coverage on shares of PENN Entertainment in a research report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price target on the stock. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.63.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $20.76 on Monday. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -5.85, a P/E/G ratio of 1.55 and a beta of 2.09. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $23.08. The company’s fifty day moving average is $20.34 and its 200 day moving average is $19.80. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

Hedge Funds Weigh In On PENN Entertainment

Hedge funds have recently bought and sold shares of the company. IFP Advisors Inc lifted its position in shares of 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 purchasing an additional 1,052 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of PENN Entertainment during the 3rd quarter worth approximately $45,000. Quest Partners LLC purchased a new position in shares of PENN Entertainment in the 3rd quarter worth approximately $56,000. Modus Advisors LLC bought a new position in shares of PENN Entertainment in the fourth quarter valued at approximately $63,000. Finally, International Assets Investment Management LLC increased its position 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 valued at $61,000 after acquiring an additional 3,057 shares during 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.