PENN Entertainment (NASDAQ:PENN) Receives Buy Rating from Needham & Company LLC

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

Other research analysts also recently issued reports about the stock. JMP Securities reiterated a market perform rating on shares of PENN Entertainment in a research note on Tuesday, April 23rd. Stifel Nicolaus reduced their price target on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a research report on Friday, February 16th. StockNews.com lowered PENN Entertainment from a hold rating to a sell rating in a report on Wednesday, March 6th. Barclays cut their price objective on PENN Entertainment from $27.00 to $26.00 and set an overweight rating on the stock in a research note on Friday, April 19th. Finally, Benchmark started coverage on PENN Entertainment in a report on Tuesday, April 16th. They issued a hold rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment presently has an average rating of Hold and an average target price of $25.92.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $15.13 on Thursday. PENN Entertainment has a one year low of $13.50 and a one year high of $29.38. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. The business’s 50-day simple moving average is $17.44 and its 200 day simple moving average is $21.17.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The business 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 17.77% and a negative return on equity of 3.53%. Research analysts forecast that PENN Entertainment will post -0.9 earnings per share for the current year.

Institutional Trading of PENN Entertainment

A number of large investors have recently modified their holdings of PENN. Harbor Investment Advisory LLC acquired a new position in PENN Entertainment during the 4th quarter valued at about $32,000. Huntington National Bank grew its holdings in PENN Entertainment by 324.8% in the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after buying an additional 1,072 shares in the last quarter. Lindbrook Capital LLC increased its position in PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after acquiring an additional 553 shares during the period. Neo Ivy Capital Management bought a new stake in PENN Entertainment during the 4th quarter valued at $40,000. Finally, Signaturefd LLC boosted its position in PENN Entertainment by 60.8% during the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock worth $44,000 after acquiring an additional 727 shares during the period. 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.