PENN Entertainment (NASDAQ:PENN) Given New $16.50 Price Target at Morgan Stanley

PENN Entertainment (NASDAQ:PENN) had its price objective decreased by research analysts at Morgan Stanley from $17.50 to $16.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 16.77% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Needham & Company LLC decreased their target price on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research note on Monday, March 3rd. Jefferies Financial Group increased their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Stifel Nicolaus decreased their price objective on shares of PENN Entertainment from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.28.

PENN Entertainment Price Performance

Shares of PENN stock traded down $0.14 during trading hours on Wednesday, hitting $14.13. The company had a trading volume of 499,624 shares, compared to its average volume of 4,500,508. The firm’s fifty day moving average is $18.18 and its 200 day moving average is $19.20. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -3.98, a PEG ratio of 1.55 and a beta of 1.96. PENN Entertainment has a 12 month low of $13.25 and a 12 month high of $23.08. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

Institutional Trading of PENN Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Contrarius Group Holdings Ltd acquired a new position in PENN Entertainment in the fourth quarter valued at $34,994,000. Norges Bank bought a new position in shares of PENN Entertainment in the 4th quarter worth $27,901,000. SG Americas Securities LLC purchased a new position in shares of PENN Entertainment in the 4th quarter worth $27,805,000. Raymond James Financial Inc. bought a new position in shares of PENN Entertainment during the 4th quarter worth $17,804,000. Finally, Invesco Ltd. lifted its holdings in PENN Entertainment by 28.0% in the 4th quarter. Invesco Ltd. now owns 3,882,009 shares of the company’s stock valued at $76,941,000 after purchasing an additional 848,066 shares in the last quarter. 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.