PENN Entertainment (NASDAQ:PENN) Shares Gap Up to $16.93

PENN Entertainment, Inc. (NASDAQ:PENN) shares gapped up prior to trading on Tuesday . The stock had previously closed at $16.93, but opened at $17.67. PENN Entertainment shares last traded at $17.49, with a volume of 1,067,419 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently commented on PENN. Mizuho began coverage on shares of PENN Entertainment in a research note on Tuesday, March 26th. They set a “buy” rating and a $29.00 target price for the company. Stifel Nicolaus cut 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. Barclays cut their target price on shares of PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Truist Financial raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday. Finally, Morgan Stanley boosted their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.80.

PENN Entertainment Trading Up 2.4 %

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The firm’s fifty day simple moving average is $17.65 and its two-hundred day simple moving average is $21.39.

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 during the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. Equities analysts expect that PENN Entertainment, Inc. will post -0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of PENN. National Bank of Canada FI lifted its holdings in shares of PENN Entertainment by 12.6% in the 3rd quarter. National Bank of Canada FI now owns 4,162 shares of the company’s stock worth $94,000 after acquiring an additional 466 shares during the last quarter. Tyler Stone Wealth Management lifted its holdings in shares of PENN Entertainment by 34.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock worth $45,000 after acquiring an additional 500 shares during the last quarter. Jump Financial LLC lifted its holdings in shares of PENN Entertainment by 1.4% in the 3rd quarter. Jump Financial LLC now owns 36,289 shares of the company’s stock worth $833,000 after acquiring an additional 510 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in shares of PENN Entertainment by 3.7% in the 3rd quarter. Westside Investment Management Inc. now owns 14,852 shares of the company’s stock worth $341,000 after acquiring an additional 525 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in shares of PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after acquiring an additional 553 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.