PENN Entertainment (NASDAQ:PENN) Now Covered by Morgan Stanley

Equities research analysts at Morgan Stanley initiated coverage on shares of PENN Entertainment (NASDAQ:PENNGet Rating) in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage set an “equal weight” rating and a $36.00 price target on the stock. Morgan Stanley’s price target points to a potential downside of 0.36% from the stock’s current price.

A number of other equities analysts have also issued reports on PENN. CBRE Group decreased their price objective on PENN Entertainment from $57.00 to $54.00 and set a “buy” rating for the company in a report on Friday, November 4th. Canaccord Genuity Group began coverage on PENN Entertainment in a report on Thursday, October 6th. They issued a “buy” rating and a $50.00 price objective for the company. Barclays increased their price objective on PENN Entertainment from $37.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Wells Fargo & Company decreased their price objective on PENN Entertainment from $38.00 to $33.00 and set an “equal weight” rating for the company in a report on Friday, October 21st. Finally, Truist Financial decreased their price objective on PENN Entertainment from $48.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, October 25th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, PENN Entertainment currently has an average rating of “Moderate Buy” and an average price target of $54.63.

PENN Entertainment Stock Up 1.9 %

Shares of PENN Entertainment stock opened at $36.13 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.87. The business’s 50 day simple moving average is $31.29 and its 200-day simple moving average is $31.86. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.75 and a beta of 2.19. PENN Entertainment has a twelve month low of $25.49 and a twelve month high of $54.08.

Hedge Funds Weigh In On PENN Entertainment

Hedge funds have recently modified their holdings of the stock. M&T Bank Corp grew its holdings in shares of PENN Entertainment by 11.3% in the 1st quarter. M&T Bank Corp now owns 6,776 shares of the company’s stock worth $286,000 after acquiring an additional 690 shares during the last quarter. CWM LLC boosted its position in shares of PENN Entertainment by 14.6% in the second quarter. CWM LLC now owns 5,026 shares of the company’s stock worth $153,000 after buying an additional 640 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in shares of PENN Entertainment by 94.5% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 47,219 shares of the company’s stock worth $1,448,000 after buying an additional 22,947 shares during the period. Banque Pictet & Cie SA acquired a new stake in shares of PENN Entertainment in the first quarter worth $1,666,000. Finally, HighTower Advisors LLC boosted its position in shares of PENN Entertainment by 12.6% in the first quarter. HighTower Advisors LLC now owns 60,091 shares of the company’s stock worth $2,538,000 after buying an additional 6,740 shares during the period. 82.62% of the stock is currently owned by institutional investors and hedge funds.

About PENN Entertainment

(Get Rating)

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates 44 properties in 20 states; online sports betting in 13 jurisdictions; and iCasino in five under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet.

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Analyst Recommendations for PENN Entertainment (NASDAQ:PENN)

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