Morgan Stanley Increases PENN Entertainment (NASDAQ:PENN) Price Target to $22.00

PENN Entertainment (NASDAQ:PENNFree Report) had its target price upped by Morgan Stanley from $21.00 to $22.00 in a report released on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

PENN has been the subject of several other research reports. Needham & Company LLC decreased their price objective on shares of PENN Entertainment from $33.00 to $32.00 and set a buy rating for the company in a research note on Friday, February 16th. StockNews.com lowered shares of PENN Entertainment from a hold rating to a sell rating in a research note on Wednesday, March 6th. Truist Financial decreased 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 note on Friday, February 16th. Mizuho started coverage on shares of PENN Entertainment in a research note on Tuesday, March 26th. They set a buy rating and a $29.00 price target for the company. Finally, Stifel Nicolaus decreased 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 note on Friday, February 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PENN Entertainment has a consensus rating of Hold and an average price target of $31.38.

Get Our Latest Stock Analysis on PENN Entertainment

PENN Entertainment Trading Down 1.2 %

NASDAQ:PENN opened at $16.70 on Tuesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -4.59 and a beta of 2.06. PENN Entertainment has a 52 week low of $16.34 and a 52 week high of $31.63. The firm has a 50-day moving average price of $18.57 and a two-hundred day moving average price of $21.68.

PENN Entertainment (NASDAQ:PENNGet Free Report) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) EPS 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 analysts’ expectations of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. On average, equities analysts expect that PENN Entertainment will post -0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in PENN Entertainment by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock valued at $383,273,000 after buying an additional 97,945 shares in the last quarter. HG Vora Capital Management LLC grew its position in shares of PENN Entertainment by 3.6% during the 2nd quarter. HG Vora Capital Management LLC now owns 14,500,000 shares of the company’s stock valued at $348,435,000 after purchasing an additional 500,000 shares in the last quarter. Earnest Partners LLC grew its position in shares of PENN Entertainment by 11.1% during the 3rd quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock valued at $62,380,000 after purchasing an additional 271,254 shares in the last quarter. Geode Capital Management LLC grew its position in shares of PENN Entertainment by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 2,321,981 shares of the company’s stock valued at $68,870,000 after purchasing an additional 50,999 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of PENN Entertainment by 52.8% during the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after purchasing an additional 725,221 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

About PENN Entertainment

(Get Free Report)

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.

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