PENN Entertainment’s (PENN) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of PENN Entertainment (NASDAQ:PENN) in a report issued on Thursday, Benzinga reports. The firm currently has a $32.00 price target on the stock.

PENN has been the subject of several other reports. Mizuho started coverage on PENN Entertainment in a research note on Tuesday, March 26th. They set a buy rating and a $29.00 price objective for the company. Morgan Stanley raised their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Benchmark initiated coverage on shares of PENN Entertainment in a report on Tuesday, April 16th. They set a hold rating for the company. JMP Securities reissued a market perform rating on shares of PENN Entertainment in a research note on Tuesday, April 23rd. 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 research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, PENN Entertainment has an average rating of Hold and a consensus price target of $25.92.

PENN Entertainment Price Performance

Shares of PENN stock opened at $15.13 on Thursday. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $29.38. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. The stock has a 50 day simple moving average of $17.44 and a 200-day simple moving average of $21.17.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The company 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 3.53%. As a group, equities research analysts anticipate that PENN Entertainment will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Huntington National Bank lifted its stake in shares of PENN Entertainment by 324.8% in the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in PENN Entertainment in the fourth quarter valued at about $32,000. Lindbrook Capital LLC lifted its position in PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after buying an additional 553 shares during the last quarter. Neo Ivy Capital Management purchased a new position in PENN Entertainment during the fourth quarter worth about $40,000. Finally, Signaturefd LLC increased 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 acquiring 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.