PENN Entertainment (NASDAQ:PENN) Reaches New 12-Month Low at $13.52

PENN Entertainment, Inc. (NASDAQ:PENN)’s share price reached a new 52-week low on Thursday . The company traded as low as $13.52 and last traded at $13.70, with a volume of 4896566 shares. The stock had previously closed at $16.44.

Analyst Upgrades and Downgrades

Several brokerages have commented on PENN. Barclays cut their price target on shares of PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Friday. Stifel Nicolaus reduced their target price on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Wells Fargo & Company decreased their target price on PENN Entertainment from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price target on shares of PENN Entertainment in a research report on Thursday. Finally, StockNews.com cut shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.93.

PENN Entertainment Price Performance

The stock’s 50 day moving average price is $17.44 and its 200-day moving average price is $21.16. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.39%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, equities research analysts forecast that PENN Entertainment, Inc. will post -0.9 EPS for the current year.

Institutional Trading of PENN Entertainment

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in PENN Entertainment by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock valued at $383,273,000 after buying an additional 97,945 shares during the last quarter. Earnest Partners LLC raised its holdings in PENN Entertainment by 11.1% during the 3rd quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock valued at $62,380,000 after buying an additional 271,254 shares during the last quarter. Sei Investments Co. raised its holdings in PENN Entertainment by 52.8% during the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after buying an additional 725,221 shares during the last quarter. Norges Bank bought a new stake in PENN Entertainment during the 4th quarter valued at $42,758,000. Finally, ING Groep NV bought a new stake in PENN Entertainment during the 4th quarter valued at $32,556,000. Hedge funds and other institutional investors 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.