PENN Entertainment, Inc. (NASDAQ:PENN) Given Average Recommendation of "Moderate Buy" by Brokerages

PENN Entertainment, Inc. (NASDAQ:PENN - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eighteen analysts that are presently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $23.56.

A number of brokerages have recently weighed in on PENN. Stifel Nicolaus lowered their price target on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Tuesday, March 18th. JPMorgan Chase & Co. upgraded PENN Entertainment from a "neutral" rating to an "overweight" rating and upped their target price for the company from $19.00 to $27.00 in a report on Friday, December 13th. StockNews.com upgraded shares of PENN Entertainment from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Jefferies Financial Group lifted their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a "hold" rating in a research note on Friday, January 3rd. Finally, JMP Securities reiterated a "market perform" rating on shares of PENN Entertainment in a report on Thursday, January 16th.

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PENN Entertainment Trading Down 9.8 %

PENN Entertainment stock traded down $1.59 during midday trading on Friday, reaching $14.69. The stock had a trading volume of 6,563,224 shares, compared to its average volume of 4,568,571. The firm's fifty day simple moving average is $18.57 and its two-hundred day simple moving average is $19.29. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment has a twelve month low of $13.25 and a twelve month high of $23.08. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -4.14, a PEG ratio of 1.55 and a beta of 1.96.

Hedge Funds Weigh In On PENN Entertainment

Several large investors have recently made changes to their positions in PENN. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PENN Entertainment by 22.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,615 shares of the company's stock valued at $483,000 after buying an additional 4,648 shares during the period. HighTower Advisors LLC lifted its holdings in shares of PENN Entertainment by 7.2% during the 3rd quarter. HighTower Advisors LLC now owns 23,292 shares of the company's stock worth $436,000 after acquiring an additional 1,573 shares during the period. Janus Henderson Group PLC boosted its position in shares of PENN Entertainment by 244.7% during the 3rd quarter. Janus Henderson Group PLC now owns 249,106 shares of the company's stock valued at $4,697,000 after acquiring an additional 176,844 shares in the last quarter. Point72 DIFC Ltd bought a new stake in PENN Entertainment in the third quarter valued at about $124,000. Finally, Quantinno Capital Management LP raised its position in PENN Entertainment by 40.2% in the third quarter. Quantinno Capital Management LP now owns 64,688 shares of the company's stock worth $1,220,000 after purchasing an additional 18,535 shares in the last quarter. 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.