PENN Entertainment (NASDAQ:PENN) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of PENN Entertainment (NASDAQ:PENN) in a research note issued to investors on Friday morning, Benzinga reports. Needham & Company LLC currently has a $33.00 price target on the stock.

PENN has been the subject of a number of other reports. Morgan Stanley decreased their price objective on PENN Entertainment from $24.00 to $22.00 and set an equal weight rating for the company in a research note on Monday, November 13th. TheStreet cut PENN Entertainment from a c- rating to a d rating in a research note on Friday, November 10th. Craig Hallum cut PENN Entertainment from a buy rating to a hold rating and decreased their price objective for the stock from $56.00 to $30.00 in a research note on Thursday, August 10th. Barclays lifted their price objective on PENN Entertainment from $33.00 to $36.00 and gave the stock an overweight rating in a research note on Thursday, August 10th. Finally, Truist Financial decreased their price objective on PENN Entertainment from $30.00 to $25.00 and set a hold rating for the company in a research note on Wednesday, October 18th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, PENN Entertainment has an average rating of Hold and an average target price of $33.67.

PENN Entertainment Stock Up 6.8 %

NASDAQ PENN opened at $26.25 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.41 and a current ratio of 1.42. PENN Entertainment has a 52 week low of $18.35 and a 52 week high of $36.66. The stock has a fifty day moving average of $21.96 and a 200-day moving average of $23.82. The stock has a market capitalization of $3.98 billion, a P/E ratio of -23.03, a price-to-earnings-growth ratio of 1.58 and a beta of 2.13.

Insider Activity

In other news, CFO Felicia Hendrix purchased 11,162 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were bought at an average cost of $22.41 per share, for a total transaction of $250,140.42. Following the completion of the acquisition, the chief financial officer now directly owns 27,975 shares in the company, valued at approximately $626,919.75. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Jane Scaccetti bought 4,400 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average price of $22.83 per share, with a total value of $100,452.00. Following the completion of the transaction, the director now owns 63,414 shares in the company, valued at $1,447,741.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Felicia Hendrix bought 11,162 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was bought at an average cost of $22.41 per share, for a total transaction of $250,140.42. Following the transaction, the chief financial officer now owns 27,975 shares of the company’s stock, valued at approximately $626,919.75. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of PENN Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Advisor Networks LLC increased its position in PENN Entertainment by 21.5% during the first quarter. Cetera Advisor Networks LLC now owns 7,719 shares of the company’s stock worth $327,000 after buying an additional 1,365 shares during the last quarter. PNC Financial Services Group Inc. increased its position in PENN Entertainment by 92.0% during the first quarter. PNC Financial Services Group Inc. now owns 15,883 shares of the company’s stock worth $674,000 after buying an additional 7,612 shares during the last quarter. Natixis Advisors L.P. acquired a new position in PENN Entertainment during the first quarter worth approximately $556,000. MetLife Investment Management LLC increased its position in PENN Entertainment by 24.3% during the first quarter. MetLife Investment Management LLC now owns 45,633 shares of the company’s stock worth $1,936,000 after buying an additional 8,931 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in PENN Entertainment by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,228 shares of the company’s stock worth $943,000 after buying an additional 1,377 shares during the last quarter. Institutional investors and hedge funds own 82.34% of the company’s stock.

PENN Entertainment Company Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet Sportbook and Casino.