Brokerages Set PENN Entertainment, Inc. (NASDAQ:PENN) Price Target at $23.50

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $23.50.

A number of equities analysts have weighed in on PENN shares. Bank of America started coverage on shares of PENN Entertainment in a research report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price objective for the company. Truist Financial reduced their price objective on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upgraded shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. Needham & Company LLC restated a “buy” rating and set a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, November 8th. Finally, Jefferies Financial Group upped their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd.

Institutional Investors Weigh In On PENN Entertainment

A number of hedge funds have recently modified their holdings of PENN. IFP Advisors Inc grew its holdings in shares of PENN Entertainment by 201.5% in the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after purchasing an additional 1,052 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of PENN Entertainment in the third quarter valued at about $45,000. Quest Partners LLC purchased a new stake in shares of PENN Entertainment in the third quarter valued at about $56,000. International Assets Investment Management LLC grew its holdings in shares of PENN Entertainment by 1,634.8% in the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after purchasing an additional 3,057 shares during the period. Finally, Modus Advisors LLC purchased a new stake in shares of PENN Entertainment in the fourth quarter valued at about $63,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

PENN opened at $21.62 on Friday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a fifty day moving average price of $20.07 and a 200 day moving average price of $19.65. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $23.08. The stock has a market cap of $3.30 billion, a P/E ratio of -6.09, a P/E/G ratio of 1.66 and a beta of 2.09.

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.