PENN Entertainment (NASDAQ:PENN) Hits New 1-Year Low at $16.27

PENN Entertainment, Inc. (NASDAQ:PENN)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $16.27 and last traded at $16.29, with a volume of 1711547 shares changing hands. The stock had previously closed at $16.70.

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley raised their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Stifel Nicolaus decreased their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Macquarie decreased their price target on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Benchmark started coverage on PENN Entertainment in a research note on Tuesday. They issued a “hold” rating for the company. Finally, StockNews.com downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $31.38.

PENN Entertainment Trading Down 1.2 %

The company has a fifty day simple moving average of $18.36 and a 200-day simple moving average of $21.58. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11.

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 7.70% and a positive return on equity of 1.31%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. As a group, analysts anticipate that PENN Entertainment, Inc. will post -0.86 EPS for the current year.

Hedge Funds Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 97,945 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of 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 acquiring an additional 271,254 shares in the last quarter. Geode Capital Management LLC boosted its holdings in PENN Entertainment by 2.2% in the first quarter. Geode Capital Management LLC now owns 2,321,981 shares of the company’s stock worth $68,870,000 after purchasing an additional 50,999 shares in the last quarter. Sei Investments Co. boosted its holdings in PENN Entertainment by 52.8% in the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after purchasing an additional 725,221 shares in the last quarter. Finally, Norges Bank bought a new stake in PENN Entertainment in the fourth quarter worth $59,504,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Company Profile

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.