Benchmark Reiterates “Hold” Rating for PENN Entertainment (NASDAQ:PENN)

Benchmark reissued their hold rating on shares of PENN Entertainment (NASDAQ:PENN) in a report published on Friday morning, Benzinga reports.

Other equities analysts have also issued reports about the stock. JMP Securities reiterated a market perform rating on shares of PENN Entertainment in a research report on Tuesday, April 23rd. Macquarie dropped their price target on PENN Entertainment from $35.00 to $33.00 and set an outperform rating for the company in a research report on Friday, February 16th. Needham & Company LLC reissued a buy rating and set a $32.00 price objective on shares of PENN Entertainment in a research note on Thursday, May 2nd. Mizuho boosted their target price on shares of PENN Entertainment from $29.00 to $32.00 and gave the company a buy rating in a research note on Friday. Finally, StockNews.com downgraded PENN Entertainment from a hold rating to a sell rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $25.92.

PENN Entertainment Stock Up 1.9 %

NASDAQ PENN opened at $15.41 on Friday. The stock has a fifty day simple moving average of $17.42 and a 200-day simple moving average of $21.13. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $29.38.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. On average, sell-side analysts expect that PENN Entertainment will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On PENN Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Kettle Hill Capital Management LLC acquired a new stake in PENN Entertainment during the 3rd quarter worth about $19,792,000. Source Financial Advisors LLC lifted its holdings in shares of PENN Entertainment by 1,061.1% in the third quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock valued at $7,404,000 after purchasing an additional 294,845 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of PENN Entertainment during the 3rd quarter valued at $1,750,000. Sei Investments Co. raised its holdings in PENN Entertainment by 13.9% during the third quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock valued at $31,510,000 after buying an additional 167,445 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of PENN Entertainment by 20.0% in the fourth quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock valued at $140,000 after buying an additional 896 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

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.