PENN Entertainment (NASDAQ:PENN) Now Covered by Benchmark

Stock analysts at Benchmark started coverage on shares of PENN Entertainment (NASDAQ:PENN) in a research note issued on Tuesday, Marketbeat reports. The firm set a “hold” rating on the stock.

Several other research analysts also recently commented on PENN. Truist Financial cut their target price on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Macquarie cut their target price on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Stifel Nicolaus cut their target price on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Friday, February 16th. StockNews.com downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, Needham & Company LLC dropped their price objective on PENN Entertainment from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.47.

PENN Entertainment Trading Down 1.7 %

Shares of PENN stock opened at $16.26 on Tuesday. The firm has a market capitalization of $2.48 billion, a P/E ratio of -4.47 and a beta of 2.06. PENN Entertainment has a twelve month low of $15.88 and a twelve month high of $31.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The stock’s fifty day simple moving average is $18.24 and its 200 day simple moving average is $21.54.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. As a group, sell-side analysts predict that PENN Entertainment will post -0.86 EPS for the current fiscal year.

Institutional Trading of PENN Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of PENN Entertainment during the fourth quarter valued at approximately $59,504,000. ING Groep NV purchased a new stake in shares of PENN Entertainment during the fourth quarter valued at approximately $32,556,000. Kettle Hill Capital Management LLC purchased a new stake in shares of PENN Entertainment during the third quarter valued at approximately $19,792,000. Renaissance Technologies LLC increased its position in shares of PENN Entertainment by 79.3% during the first quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company’s stock valued at $75,891,000 after acquiring an additional 791,500 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of PENN Entertainment by 52.8% during the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after acquiring an additional 725,221 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.