PENN Entertainment (NASDAQ:PENN) Raised to “Hold” at StockNews.com

PENN Entertainment (NASDAQ:PENN) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

Other analysts have also issued reports about the stock. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research report on Monday. Needham & Company LLC dropped their price target on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Friday. Macquarie reissued an “outperform” rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Friday. Jefferies Financial Group increased their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. Finally, Susquehanna cut their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research note on Monday, November 4th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.63.

PENN Entertainment Price Performance

Shares of PENN stock traded down $0.75 during mid-day trading on Monday, reaching $20.76. The stock had a trading volume of 5,867,047 shares, compared to its average volume of 4,848,716. The company has a market cap of $3.17 billion, a P/E ratio of -5.85, a price-to-earnings-growth ratio of 1.55 and a beta of 2.09. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $23.08. The business has a 50-day simple moving average of $20.34 and a 200 day simple moving average of $19.80.

Institutional Trading of PENN Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Contrarius Group Holdings Ltd purchased a new stake in PENN Entertainment during the fourth quarter valued at about $34,994,000. Norges Bank purchased a new position in shares of PENN Entertainment in the 4th quarter worth about $27,901,000. SG Americas Securities LLC acquired a new position in shares of PENN Entertainment in the 4th quarter valued at about $27,805,000. Raymond James Financial Inc. purchased a new stake in shares of PENN Entertainment during the 4th quarter worth about $17,804,000. Finally, Invesco Ltd. increased its position in PENN Entertainment by 28.0% during the 4th quarter. Invesco Ltd. now owns 3,882,009 shares of the company’s stock worth $76,941,000 after purchasing an additional 848,066 shares in the last quarter. 91.69% of the stock is currently 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.