PENN Entertainment (NASDAQ:PENN) Price Target Raised to $24.00 at Wells Fargo & Company

PENN Entertainment (NASDAQ:PENN - Free Report) had its price target boosted by Wells Fargo & Company from $20.00 to $24.00 in a report issued on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

PENN has been the topic of several other reports. Jefferies Financial Group raised their price target on PENN Entertainment from $21.00 to $22.00 and gave the company a "hold" rating in a research report on Friday, January 3rd. Needham & Company LLC lowered their target price on PENN Entertainment from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, February 28th. StockNews.com lowered PENN Entertainment from a "hold" rating to a "sell" rating in a report on Friday, January 17th. Susquehanna reduced their price objective on PENN Entertainment from $26.00 to $25.00 and set a "positive" rating for the company in a research report on Monday, November 4th. Finally, Macquarie reaffirmed an "outperform" rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $23.69.

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PENN Entertainment Stock Performance

NASDAQ:PENN traded down $0.82 during midday trading on Monday, reaching $19.27. The stock had a trading volume of 3,737,564 shares, compared to its average volume of 4,521,894. The stock has a market capitalization of $2.94 billion, a P/E ratio of -5.43, a PEG ratio of 1.55 and a beta of 2.09. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $23.08. 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's fifty day simple moving average is $20.41 and its 200-day simple moving average is $19.81.

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc grew its position in 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 acquiring an additional 1,052 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of PENN Entertainment in the 3rd quarter valued at $45,000. Quest Partners LLC bought a new stake in shares of PENN Entertainment in the 3rd quarter worth about $56,000. International Assets Investment Management LLC increased its position in shares of PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company's stock worth $61,000 after purchasing an additional 3,057 shares in the last quarter. Finally, Modus Advisors LLC bought a new position in PENN Entertainment during the 4th quarter valued at about $63,000. Institutional investors 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.