PENN Entertainment (NASDAQ:PENN) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of PENN Entertainment (NASDAQ:PENN) in a report released on Thursday morning, Benzinga reports. They currently have a $32.00 price objective on the stock.

A number of other research analysts have also issued reports on the company. Morgan Stanley lifted their target price on PENN Entertainment from $21.00 to $22.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Mizuho started coverage on PENN Entertainment in a research report on Tuesday, March 26th. They set a buy rating and a $29.00 price objective for the company. Stifel Nicolaus cut their target price on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a research note on Friday, February 16th. Canaccord Genuity Group decreased their price target on shares of PENN Entertainment from $32.00 to $28.00 and set a buy rating for the company in a research note on Monday, April 29th. Finally, Benchmark started coverage on shares of PENN Entertainment in a research report on Tuesday, April 16th. They issued a hold rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $26.93.

PENN Entertainment Trading Up 0.8 %

PENN Entertainment stock traded up $0.12 during midday trading on Thursday, reaching $15.13. 8,572,736 shares of the stock traded hands, compared to its average volume of 6,675,829. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. The firm has a market cap of $2.30 billion, a PE ratio of -2.03 and a beta of 2.06. The company has a 50-day simple moving average of $17.44 and a two-hundred day simple moving average of $21.16. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $29.38.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.39%. Research analysts expect that PENN Entertainment will post -0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP boosted its stake in PENN Entertainment by 324.7% during the 1st quarter. GSA Capital Partners LLP now owns 109,096 shares of the company’s stock worth $1,987,000 after purchasing an additional 83,407 shares during the period. Graypoint LLC purchased a new stake in shares of PENN Entertainment in the first quarter valued at about $487,000. Hanlon Investment Management Inc. boosted its stake in shares of PENN Entertainment by 13.9% during the first quarter. Hanlon Investment Management Inc. now owns 89,882 shares of the company’s stock worth $1,637,000 after buying an additional 11,000 shares during the period. Capstone Investment Advisors LLC grew its holdings in shares of PENN Entertainment by 281.4% during the first quarter. Capstone Investment Advisors LLC now owns 59,049 shares of the company’s stock worth $1,075,000 after buying an additional 43,566 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in PENN Entertainment by 603.3% in the 1st quarter. BNP Paribas Financial Markets now owns 93,384 shares of the company’s stock valued at $1,701,000 after acquiring an additional 80,106 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.