PENN Entertainment (NASDAQ:PENN) Given New $32.00 Price Target at Mizuho

PENN Entertainment (NASDAQ:PENN) had its price target raised by Mizuho from $29.00 to $32.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on the company. Canaccord Genuity Group cut their price objective on PENN Entertainment from $32.00 to $28.00 and set a buy rating for the company in a research report on Monday, April 29th. StockNews.com cut shares of PENN Entertainment from a hold rating to a sell rating in a research report on Wednesday, March 6th. Needham & Company LLC reiterated a buy rating and issued a $32.00 target price on shares of PENN Entertainment in a research report on Thursday. Stifel Nicolaus reduced their price target on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating for the company in a research report on Friday, February 16th. Finally, Benchmark initiated coverage on PENN Entertainment in a report on Tuesday, April 16th. They issued a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $26.93.

PENN Entertainment Stock Performance

Shares of PENN traded up $0.12 during trading hours on Friday, hitting $15.13. The stock had a trading volume of 8,572,736 shares, compared to its average volume of 6,675,829. The firm has a 50-day moving average price of $17.44 and a 200 day moving average price of $21.16. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $29.38. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -2.03 and a beta of 2.06. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative return on equity of 3.39% and a negative net margin of 17.77%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, research analysts anticipate that PENN Entertainment will post -0.9 EPS for the current year.

Institutional Trading of PENN Entertainment

Several institutional investors have recently made changes to their positions in the company. Huntington National Bank increased its stake in PENN Entertainment by 324.8% during the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after acquiring an additional 1,072 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of PENN Entertainment during the 4th quarter worth $32,000. Lindbrook Capital LLC increased its position in shares of PENN Entertainment by 57.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after purchasing 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. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.