PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating ) has been given a consensus rating of “Moderate Buy” by the twenty brokerages that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $54.39.
Several research firms recently commented on PENN. Wells Fargo & Company lowered their price objective on PENN Entertainment from $38.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Friday, October 21st. JPMorgan Chase & Co. cut PENN Entertainment from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $38.00 to $39.00 in a research report on Monday, November 28th. Canaccord Genuity Group began coverage on PENN Entertainment in a research report on Thursday, October 6th. They issued a “buy” rating on the stock. StockNews.com cut PENN Entertainment from a “buy” rating to a “hold” rating in a research report on Saturday, November 12th. Finally, Canaccord Genuity Group began coverage on PENN Entertainment in a research report on Thursday, October 6th. They issued a “buy” rating and a $50.00 target price on the stock.
Institutional trading with PENN Entertainment
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HG Vora Capital Management LLC raised its stake in PENN Entertainment by 114.3% during the 3rd quarter. HG Vora Capital Management LLC now owns 7,500,000 shares of the company’s stock valued at $206,325,000 after purchasing an additional 4,000,000 shares during the period. Contrarius Investment Management Ltd bought a new stake in PENN Entertainment during the 2nd quarter valued at approximately $75,776,000. Renaissance Technologies LLC raised its stake in PENN Entertainment by 1.3% during the 3rd quarter. Renaissance Technologies LLC now owns 2,345,461 shares of the company’s stock valued at $64,524,000 after purchasing an additional 30,823 shares during the period. Bank of Nova Scotia purchased a new stake in PENN Entertainment during the 2nd quarter valued at approximately $65,983,000. Finally, Charles Schwab Investment Management Inc. raised increased its stake in PENN Entertainment by 5.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,882,461 shares of the company’s stock valued at $79,854,000 after purchasing an additional 97,988 shares during the period. Institutional investors own 82.62% of the company’s shares.
PENN Entertainment trades down 2.0%
PENN Entertainment stock opened at $33.29 on Thursday. The company has a debt ratio of 1.87, a current ratio of 1.79 and a quick ratio of 1.79. PENN Entertainment has a one year low of $25.49 and a one year high of $53.37. The stock has a market cap of $5.16 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 1.68 and a beta of 2.17. The company’s 50 day moving average is $32.58 and its 200 day moving average is $32.17.
Company Profile for PENN Entertainment
PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest and Interactive. It operates 44 properties in 20 states; online sports betting in 13 jurisdictions; and iCasino in five under a portfolio of brands including Hollywood Casino, L’Auberge, Barstool Sportsbook and theScore Bet.
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