PENN Entertainment (NASDAQ:PENN) Price Target Lowered to $23.00 at Susquehanna

PENN Entertainment (NASDAQ:PENN) had its price objective dropped by Susquehanna from $26.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price objective indicates a potential upside of 60.69% from the company’s previous close.

A number of other research analysts have also commented on the company. Jefferies Financial Group upped their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a report on Friday, January 3rd. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Mizuho boosted their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a report on Monday, March 3rd. Finally, StockNews.com upgraded PENN Entertainment from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.44.

PENN Entertainment Stock Performance

Shares of NASDAQ:PENN traded up $0.02 during trading on Tuesday, reaching $14.31. 319,434 shares of the stock were exchanged, compared to its average volume of 4,505,107. PENN Entertainment has a 12 month low of $13.25 and a 12 month high of $23.08. The stock has a 50-day moving average price of $18.31 and a 200-day moving average price of $19.23. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The firm has a market cap of $2.19 billion, a PE ratio of -4.03, a PEG ratio of 1.55 and a beta of 1.96.

Institutional Trading of PENN Entertainment

Several large investors have recently modified their holdings of PENN. M&T Bank Corp boosted its stake in PENN Entertainment by 4.2% during the third quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock worth $235,000 after acquiring an additional 497 shares in the last quarter. Westside Investment Management Inc. boosted its position in shares of PENN Entertainment by 3.2% during the 4th quarter. Westside Investment Management Inc. now owns 19,849 shares of the company’s stock worth $393,000 after purchasing an additional 620 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of PENN Entertainment by 38.7% in the 1st quarter. GAMMA Investing LLC now owns 2,636 shares of the company’s stock valued at $43,000 after buying an additional 736 shares during the period. CIBC Asset Management Inc grew its stake in shares of PENN Entertainment by 5.8% in the 4th quarter. CIBC Asset Management Inc now owns 14,774 shares of the company’s stock valued at $293,000 after buying an additional 813 shares during the period. Finally, IFP Advisors Inc increased its position in PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after buying an additional 1,052 shares in the last quarter. Institutional investors and hedge funds own 91.69% 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. 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.