PENN Entertainment (NASDAQ:PENN) Coverage Initiated by Analysts at Benchmark

Benchmark began coverage on shares of PENN Entertainment (NASDAQ:PENN) in a research note issued to investors on Tuesday, MarketBeat reports. The firm issued a hold rating on the stock.

Several other research firms have also commented on PENN. Stifel Nicolaus lowered their price objective on shares of 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 lowered their price target on PENN Entertainment from $35.00 to $33.00 and set an outperform rating for the company in a report on Friday, February 16th. Truist Financial decreased their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating for the company in a research note on Friday, February 16th. StockNews.com downgraded shares of PENN Entertainment from a hold rating to a sell rating in a research note on Wednesday, March 6th. Finally, Morgan Stanley raised their price target on PENN Entertainment from $21.00 to $22.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $30.47.

PENN Entertainment Stock Down 0.7 %

NASDAQ:PENN opened at $16.14 on Tuesday. PENN Entertainment has a 1-year low of $15.88 and a 1-year high of $31.63. The company’s 50-day moving average is $18.12 and its two-hundred day moving average is $21.51. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates 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 7.70% and a positive return on equity of 1.31%. As a group, equities analysts anticipate that PENN Entertainment will post -0.86 earnings per share for the current fiscal year.

Institutional Trading of PENN Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of PENN. International Assets Investment Management LLC purchased a new stake in PENN Entertainment in the third quarter valued at approximately $29,000. Huntington National Bank lifted its stake in shares of PENN Entertainment by 324.8% during the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after purchasing an additional 1,072 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at about $32,000. Quarry LP raised its holdings in shares of PENN Entertainment by 95.1% during the 2nd quarter. Quarry LP now owns 1,383 shares of the company’s stock valued at $33,000 after buying an additional 674 shares during the period. Finally, Tyler Stone Wealth Management acquired a new position in PENN Entertainment during the 2nd quarter worth approximately $35,000. 91.69% of the stock is 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.