PENN Entertainment (NASDAQ:PENN) PT Lowered to $18.00 at Wells Fargo & Company

PENN Entertainment (NASDAQ:PENN) had its price target cut by Wells Fargo & Company from $21.00 to $18.00 in a research report released on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also issued reports on PENN. JMP Securities reiterated a market perform rating on shares of PENN Entertainment in a research note on Tuesday, April 23rd. Needham & Company LLC reissued a buy rating and issued a $32.00 price objective on shares of PENN Entertainment in a research report on Thursday. Stifel Nicolaus dropped their target price on PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a research report on Friday, February 16th. Canaccord Genuity Group reduced their price target on PENN Entertainment from $32.00 to $28.00 and set a buy rating for the company in a report on Monday, April 29th. Finally, Macquarie dropped their price objective on PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, PENN Entertainment has a consensus rating of Hold and a consensus target price of $25.92.

PENN Entertainment Trading Down 1.5 %

NASDAQ PENN traded down $0.23 during mid-day trading on Friday, hitting $14.90. The company’s stock had a trading volume of 359,927 shares, compared to its average volume of 5,856,076. The firm has a market capitalization of $2.27 billion, a P/E ratio of -2.03 and a beta of 2.06. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.04 and a quick ratio of 1.04. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $29.38. The stock’s fifty day simple moving average is $17.44 and its two-hundred day simple moving average is $21.17.

PENN Entertainment (NASDAQ:PENN) last issued 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). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Research analysts expect that PENN Entertainment will post -0.9 EPS for the current year.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PENN. Tyler Stone Wealth Management boosted its position in PENN Entertainment by 34.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock worth $45,000 after acquiring an additional 500 shares during the period. Jump Financial LLC lifted its holdings in PENN Entertainment by 1.4% in the third quarter. Jump Financial LLC now owns 36,289 shares of the company’s stock worth $833,000 after purchasing an additional 510 shares during the period. Westside Investment Management Inc. grew its position in PENN Entertainment by 3.7% in the 3rd quarter. Westside Investment Management Inc. now owns 14,852 shares of the company’s stock valued at $341,000 after buying an additional 525 shares in the last quarter. Lindbrook Capital LLC increased its stake in PENN Entertainment by 57.1% during 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. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of PENN Entertainment by 7.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock worth $252,000 after buying an additional 632 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

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.