Craig Hallum Cuts PENN Entertainment (NASDAQ:PENN) Price Target to $20.00

PENN Entertainment (NASDAQ:PENN) had its price target trimmed by Craig Hallum from $25.00 to $20.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Barclays decreased their price objective on shares of PENN Entertainment from $26.00 to $22.00 and set an overweight rating for the company in a research report on Friday. JMP Securities reiterated a market perform rating on shares of PENN Entertainment in a research report on Tuesday, April 23rd. StockNews.com cut shares of PENN Entertainment from a hold rating to a sell rating in a report on Wednesday, March 6th. Needham & Company LLC restated a buy rating and issued a $32.00 price target on shares of PENN Entertainment in a report on Thursday. Finally, Macquarie reduced their price target on shares of PENN Entertainment from $35.00 to $33.00 and set an outperform rating for the company in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, PENN Entertainment presently has a consensus rating of Hold and a consensus target price of $25.92.

PENN Entertainment Price Performance

NASDAQ:PENN traded down $0.23 on Friday, hitting $14.90. The company had a trading volume of 359,927 shares, compared to its average volume of 5,856,076. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. PENN Entertainment has a 52 week low of $13.50 and a 52 week high of $29.38. The firm has a 50 day moving average of $17.44 and a two-hundred day moving average of $21.17. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -2.03 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $1.54 billion. On average, research analysts anticipate that PENN Entertainment will post -0.9 earnings per share for the current year.

Hedge Funds Weigh In On PENN Entertainment

Hedge funds have recently bought and sold shares of the company. Harbor Investment Advisory LLC purchased a new position in PENN Entertainment during the fourth quarter valued at approximately $32,000. Huntington National Bank lifted its position in PENN Entertainment by 324.8% during the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after buying an additional 553 shares during the period. Neo Ivy Capital Management purchased a new position in shares of PENN Entertainment in the fourth quarter worth $40,000. Finally, Signaturefd LLC increased its stake in shares of PENN Entertainment by 60.8% in the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock worth $44,000 after buying an additional 727 shares during the period. 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.