PENN Entertainment (NASDAQ:PENN) Upgraded at Truist Financial

Truist Financial upgraded shares of PENN Entertainment (NASDAQ:PENN) from a hold rating to a buy rating in a report issued on Tuesday, Marketbeat reports. The brokerage currently has $23.00 price objective on the stock.

Several other brokerages have also recently commented on PENN. Stifel Nicolaus dropped their target price on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating for the company in a research report on Friday, February 16th. Morgan Stanley upped their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Macquarie reduced their target price on PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a report on Friday, February 16th. Needham & Company LLC lowered their price target on PENN Entertainment from $33.00 to $32.00 and set a buy rating for the company in a research note on Friday, February 16th. Finally, Barclays cut their price target on shares of PENN Entertainment from $27.00 to $26.00 and set an overweight rating on the stock in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $29.80.

PENN Entertainment Price Performance

Shares of PENN stock opened at $17.19 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. PENN Entertainment has a 12 month low of $15.88 and a 12 month high of $31.63. The stock has a 50-day moving average price of $17.61 and a 200 day moving average price of $21.36.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. As a group, analysts predict that PENN Entertainment will post -0.9 EPS for the current year.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank lifted its holdings in shares of PENN Entertainment by 324.8% in 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 in the last quarter. Harbor Investment Advisory LLC acquired a new stake in PENN Entertainment in the 4th quarter valued at approximately $32,000. Lindbrook Capital LLC raised its position in PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after buying an additional 553 shares during the last quarter. Neo Ivy Capital Management bought a new stake in PENN Entertainment in the 4th quarter valued at approximately $40,000. Finally, Signaturefd LLC lifted its stake in PENN Entertainment by 60.8% in the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after acquiring an additional 727 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.