PENN Entertainment (NASDAQ:PENN) Price Target Cut to $25.00 by Analysts at Needham & Company LLC

PENN Entertainment (NASDAQ:PENN) had its target price dropped by Needham & Company LLC from $26.00 to $25.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 22.61% from the company’s current price.

A number of other brokerages also recently issued reports on PENN. Macquarie lifted their price target on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Bank of America started coverage on PENN Entertainment in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price target on the stock. Stifel Nicolaus upped their price target on PENN Entertainment from $20.00 to $21.00 and gave the company a “hold” rating in a report on Tuesday, February 11th. Benchmark restated a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. Finally, Susquehanna lowered their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PENN Entertainment currently has a consensus rating of “Hold” and an average target price of $23.44.

PENN Entertainment Price Performance

PENN stock opened at $20.39 on Friday. The business’s 50-day moving average is $20.23 and its two-hundred day moving average is $19.76. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $3.11 billion, a P/E ratio of -5.74, a P/E/G ratio of 1.55 and a beta of 2.09. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $23.08.

Hedge Funds Weigh In On PENN Entertainment

Several institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in shares of PENN Entertainment by 201.5% during the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after acquiring an additional 1,052 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of PENN Entertainment in the 3rd quarter valued at $45,000. Quest Partners LLC purchased a new stake in shares of PENN Entertainment during the 3rd quarter valued at $56,000. International Assets Investment Management LLC increased its holdings in shares of PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after buying an additional 3,057 shares during the last quarter. Finally, Modus Advisors LLC purchased a new position in shares of PENN Entertainment in the 4th quarter worth $63,000. 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.