PENN Entertainment (NASDAQ:PENN) Reaches New 12-Month Low at $13.52

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) reached a new 52-week low during trading on Thursday . The company traded as low as $13.52 and last traded at $13.70, with a volume of 4896566 shares traded. The stock had previously closed at $16.44.

Analyst Ratings Changes

A number of analysts recently commented on PENN shares. Barclays lowered their target price on shares of PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday. Mizuho lifted their target price on shares of PENN Entertainment from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company lowered their target price on shares of PENN Entertainment from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday. Stifel Nicolaus lowered 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 note on Friday, February 16th. Finally, StockNews.com cut shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment presently has a consensus rating of “Hold” and a consensus price target of $26.93.

PENN Entertainment Stock Up 0.8 %

The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s fifty day moving average price is $17.44 and its two-hundred day moving average price is $21.16.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results 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 firm had revenue of $1.40 billion for 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 3.39%. Analysts expect that PENN Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in PENN Entertainment by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock worth $383,273,000 after acquiring an additional 97,945 shares in the last quarter. Earnest Partners LLC increased its holdings in PENN Entertainment by 11.1% in the 3rd quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock worth $62,380,000 after acquiring an additional 271,254 shares in the last quarter. Sei Investments Co. increased its holdings in PENN Entertainment by 52.8% in the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after acquiring an additional 725,221 shares in the last quarter. Norges Bank acquired a new stake in PENN Entertainment during the 4th quarter worth $42,758,000. Finally, ING Groep NV acquired a new stake in PENN Entertainment during the 4th quarter worth $32,556,000. Hedge funds and other institutional investors 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.