PENN Entertainment (NASDAQ:PENN) Price Target Lowered to $28.00 at Canaccord Genuity Group

PENN Entertainment (NASDAQ:PENN) had its price target cut by Canaccord Genuity Group from $32.00 to $28.00 in a report issued on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

PENN has been the topic of a number of other reports. Morgan Stanley lifted their price objective on PENN Entertainment from $21.00 to $22.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. JMP Securities reiterated a market perform rating on shares of PENN Entertainment in a research report on Tuesday, April 23rd. Truist Financial upgraded shares of 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. StockNews.com downgraded PENN Entertainment from a hold rating to a sell rating in a report on Wednesday, March 6th. Finally, Macquarie dropped their price objective on PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, PENN Entertainment currently has a consensus rating of Moderate Buy and a consensus target price of $29.13.

PENN Entertainment Trading Up 1.0 %

Shares of NASDAQ PENN opened at $17.03 on Monday. PENN Entertainment has a 1 year low of $15.88 and a 1 year high of $31.63. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. The company has a 50 day simple moving average of $17.54 and a 200 day simple moving average of $21.30.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Harbor Investment Advisory LLC bought a new stake in shares of PENN Entertainment during the fourth quarter worth about $32,000. Huntington National Bank increased its holdings in PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after purchasing an additional 1,072 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after purchasing an additional 553 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of PENN Entertainment in the fourth quarter valued at approximately $40,000. Finally, Signaturefd LLC boosted its position in shares of PENN Entertainment by 60.8% during the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after buying an additional 727 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.