Craig Hallum Cuts PENN Entertainment (NASDAQ:PENN) Price Target to $20.00

PENN Entertainment (NASDAQ:PENN) had its target price cut by Craig Hallum from $25.00 to $20.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a hold rating on the stock.

A number of other research analysts have also recently commented on the company. Morgan Stanley upped their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. StockNews.com cut shares of PENN Entertainment from a hold rating to a sell rating in a research report on Wednesday, March 6th. Canaccord Genuity Group dropped their price objective on shares of PENN Entertainment from $32.00 to $28.00 and set a buy rating on the stock in a research report on Monday, April 29th. Benchmark began coverage on shares of PENN Entertainment in a research report on Tuesday, April 16th. They set a hold rating for the company. Finally, Barclays dropped their target price on PENN Entertainment from $26.00 to $22.00 and set an overweight rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $25.92.

PENN Entertainment Trading Up 1.9 %

NASDAQ PENN opened at $15.41 on Friday. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $29.38. The company has a fifty day simple moving average of $17.42 and a two-hundred day simple moving average of $21.13. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data 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). The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. On average, equities research analysts expect that PENN Entertainment will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Huntington National Bank raised its position in PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after buying an additional 1,072 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in PENN Entertainment during the fourth quarter worth about $32,000. Lindbrook Capital LLC lifted its holdings in shares of PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after buying an additional 553 shares during the period. Neo Ivy Capital Management acquired a new stake in PENN Entertainment in the fourth quarter valued at $40,000. Finally, Signaturefd LLC boosted its stake in shares of PENN Entertainment by 60.8% during the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after acquiring an additional 727 shares during the last quarter. 91.69% of the stock is currently 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.