PENN Entertainment (NASDAQ:PENN) Stock Price Breaks Above 200 Day Moving Average – Should You Sell?

PENN Entertainment, Inc. (NASDAQ:PENN)’s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $16.79 and traded as high as $17.46. PENN Entertainment shares last traded at $17.02, with a volume of 4,108,258 shares.

Analysts Set New Price Targets

PENN has been the subject of a number of recent research reports. Barclays upped their target price on PENN Entertainment from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, October 9th. Benchmark lifted their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Jefferies Financial Group restated a “hold” rating and issued a $22.00 price target on shares of PENN Entertainment in a research note on Friday, August 7th. Susquehanna dropped their price objective on PENN Entertainment from $30.00 to $26.00 and set a “positive” rating for the company in a report on Monday, October 19th. Finally, Morgan Stanley lowered their price objective on shares of PENN Entertainment from $20.00 to $18.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.61.

PENN Entertainment Stock Performance

The company has a market capitalization of $2.34 billion, a PE ratio of 42.67, a PEG ratio of 0.44 and a beta of 1.40. The business’s 50-day moving average is $16.02 and its 200-day moving average is $16.82. The company has a debt-to-equity ratio of 3.79, a quick ratio of 0.89 and a current ratio of 0.89.

PENN Entertainment (NASDAQ:PENN) last released its earnings results on Thursday, August 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.37 by $0.07. PENN Entertainment had a negative net margin of 12.66% and a positive return on equity of 2.93%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts anticipate that PENN Entertainment, Inc. will post 1.20 earnings per share for the current year.

Institutional Investors Weigh In On PENN Entertainment

A number of hedge funds have recently added to or reduced their stakes in PENN. Nykredit A S purchased a new stake in shares of PENN Entertainment during the second quarter worth approximately $25,000. Versant Capital Management Inc raised its position in PENN Entertainment by 29.6% during the 3rd quarter. Versant Capital Management Inc now owns 3,513 shares of the company’s stock worth $51,000 after buying an additional 803 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of PENN Entertainment by 103.1% in the 3rd quarter. IFP Advisors Inc now owns 3,920 shares of the company’s stock worth $57,000 after acquiring an additional 1,990 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of PENN Entertainment in the second quarter valued at about $66,000. Finally, GAMMA Investing LLC increased its stake in shares of PENN Entertainment by 19.4% during the second quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock worth $118,000 after acquiring an additional 895 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Company Profile

PENN Entertainment, Inc is a North American provider of integrated entertainment, gaming and sports betting. The company operates casinos, racetracks and video gaming terminals, offering slot machines, table games, poker, sports wagering, hotel accommodations, restaurants, entertainment venues and other amenities.

PENN’s portfolio includes regional gaming properties operating under brands such as Hollywood Casino, Ameristar, L’Auberge and M Resort. Its land-based operations serve customers across numerous U.S.