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

PENN Entertainment (NASDAQ:PENN) had its price objective reduced by Craig Hallum from $25.00 to $20.00 in a research note published on Friday morning, Benzinga reports. Craig Hallum currently has a hold rating on the stock.

Several other research analysts have also commented on PENN. Benchmark initiated coverage on PENN Entertainment in a research report on Tuesday, April 16th. They set a hold rating on the stock. 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 report on Friday, February 16th. Needham & Company LLC reissued a buy rating and issued a $32.00 target price on shares of PENN Entertainment in a report on Thursday. Canaccord Genuity Group dropped their target price on PENN Entertainment from $32.00 to $28.00 and set a buy rating on the stock in a report on Monday, April 29th. Finally, Truist Financial raised PENN Entertainment from a hold rating to a buy rating and set a $23.00 target price on the stock in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $25.92.

PENN Entertainment Stock Down 1.5 %

Shares of PENN traded down $0.23 during midday trading 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’s 50-day simple moving average is $17.44 and its 200-day simple moving average is $21.17. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $2.27 billion, a P/E ratio of -2.03 and a beta of 2.06. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $29.38.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data 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). The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. As a group, sell-side analysts expect that PENN Entertainment will post -0.9 EPS for the current year.

Institutional Trading of PENN Entertainment

A number of hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in PENN Entertainment by 8.0% in the third quarter. Commonwealth Equity Services LLC now owns 57,884 shares of the company’s stock valued at $1,328,000 after purchasing an additional 4,270 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in PENN Entertainment by 11.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 29,804 shares of the company’s stock valued at $684,000 after acquiring an additional 3,041 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new position in PENN Entertainment in the third quarter valued at $46,000. Raymond James & Associates boosted its holdings in PENN Entertainment by 15.7% in the third quarter. Raymond James & Associates now owns 73,007 shares of the company’s stock valued at $1,676,000 after acquiring an additional 9,886 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. boosted its holdings in PENN Entertainment by 10.5% in the third quarter. Total Clarity Wealth Management Inc. now owns 17,363 shares of the company’s stock valued at $398,000 after acquiring an additional 1,647 shares during 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.