PENN Entertainment (NASDAQ:PENN) Given New $17.00 Price Target at Susquehanna

PENN Entertainment (NASDAQ:PENN) had its price target reduced by Susquehanna from $20.00 to $17.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a positive rating on the stock.

PENN has been the subject of a number of other research reports. Jefferies Financial Group reissued a “hold” rating and issued a $17.00 target price on shares of PENN Entertainment in a report on Wednesday, December 24th. Mizuho set a $19.00 target price on shares of PENN Entertainment in a research note on Monday, February 2nd. Citizens Jmp decreased their target price on shares of PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating for the company in a research report on Friday, November 7th. Morgan Stanley dropped their price target on PENN Entertainment from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, January 16th. Finally, Wells Fargo & Company initiated coverage on PENN Entertainment in a research report on Tuesday, November 18th. They set an “underweight” rating and a $15.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, PENN Entertainment has an average rating of “Hold” and an average target price of $20.00.

PENN Entertainment Trading Up 0.1%

Shares of PENN Entertainment stock traded up $0.01 on Wednesday, reaching $13.37. The company had a trading volume of 173,967 shares, compared to its average volume of 4,121,914. The firm has a market cap of $1.78 billion, a PE ratio of -2.11, a PEG ratio of 0.46 and a beta of 1.39. The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s 50 day moving average price is $14.06 and its two-hundred day moving average price is $16.33. PENN Entertainment has a 52-week low of $12.19 and a 52-week high of $23.08.

Insider Activity at PENN Entertainment

In other news, CFO Felicia Hendrix bought 7,315 shares of PENN Entertainment stock in a transaction dated Friday, November 21st. The stock was purchased at an average price of $13.79 per share, for a total transaction of $100,873.85. Following the purchase, the chief financial officer directly owned 119,448 shares in the company, valued at $1,647,187.92. The trade was a 6.52% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gupta Vimla Black sold 7,987 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $14.51, for a total transaction of $115,891.37. Following the sale, the director directly owned 25,000 shares in the company, valued at approximately $362,750. This trade represents a 24.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.67% of the stock is owned by insiders.

Hedge Funds Weigh In On PENN Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of PENN. IFP Advisors Inc increased its stake in shares of PENN Entertainment by 76.2% in the fourth quarter. IFP Advisors Inc now owns 2,766 shares of the company’s stock worth $41,000 after buying an additional 1,196 shares during the period. Modus Advisors LLC bought a new stake in shares of PENN Entertainment during the 4th quarter valued at $47,000. Cloud Capital Management LLC bought a new stake in shares of PENN Entertainment during the third quarter valued at approximately $54,000. Triumph Capital Management purchased a new position in shares of PENN Entertainment in the 3rd quarter worth $54,000. Finally, Hantz Financial Services Inc. increased its position in PENN Entertainment by 385.1% during the fourth quarter. Hantz Financial Services Inc. now owns 3,721 shares of the company’s stock valued at $55,000 after acquiring an additional 2,954 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

About PENN Entertainment

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.