PENN Entertainment, Inc. (NASDAQ:PENN) Receives $23.69 Consensus Target Price from Brokerages

PENN Entertainment, Inc. (NASDAQ:PENN) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.69.

PENN has been the subject of several recent analyst reports. StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Needham & Company LLC decreased their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, February 28th. Jefferies Financial Group lifted their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company lifted their target price on shares of PENN Entertainment from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $27.00 in a report on Friday, December 13th.

PENN Entertainment Stock Up 5.3 %

Shares of PENN Entertainment stock opened at $17.09 on Wednesday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $2.61 billion, a PE ratio of -4.81, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. PENN Entertainment has a 52-week low of $13.50 and a 52-week high of $23.08. The company has a 50-day simple moving average of $20.15 and a two-hundred day simple moving average of $19.69.

Institutional Trading of PENN Entertainment

Large investors have recently added to or reduced their stakes in the business. IFP Advisors Inc grew its position in PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after buying an additional 1,052 shares during the period. Quest Partners LLC bought a new position in shares of PENN Entertainment in the third quarter worth approximately $56,000. Modus Advisors LLC bought a new position in shares of PENN Entertainment in the fourth quarter worth approximately $63,000. Lee Danner & Bass Inc. bought a new position in shares of PENN Entertainment in the fourth quarter worth approximately $92,000. Finally, KBC Group NV boosted its position in shares of PENN Entertainment by 36.5% in the fourth quarter. KBC Group NV now owns 5,501 shares of the company’s stock worth $109,000 after purchasing an additional 1,470 shares during the period. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Company Profile

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.