PENN Entertainment (NASDAQ:PENN) Given New $22.00 Price Target at Barclays

PENN Entertainment (NASDAQ:PENN) had its price target cut by Barclays from $26.00 to $22.00 in a research note published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

PENN has been the topic of several other reports. Stifel Nicolaus decreased their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a hold rating on the stock in a report on Friday, February 16th. Needham & Company LLC reissued a buy rating and issued a $32.00 price target on shares of PENN Entertainment in a report on Thursday. Macquarie cut their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an outperform rating for the company in a research report on Friday, February 16th. JMP Securities reaffirmed a market perform rating on shares of PENN Entertainment in a research report on Tuesday, April 23rd. Finally, Morgan Stanley lifted their price target on PENN Entertainment from $21.00 to $22.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $26.93.

PENN Entertainment Stock Performance

PENN Entertainment stock traded up $0.12 during midday trading on Friday, reaching $15.13. 8,572,736 shares of the company’s stock were exchanged, compared to its average volume of 6,675,829. The stock’s 50-day simple moving average is $17.44 and its 200 day simple moving average is $21.16. The firm has a market cap 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 has a 52 week low of $13.50 and a 52 week high of $29.38.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Huntington National Bank grew 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 buying an additional 1,072 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of PENN Entertainment during the 4th quarter worth approximately $32,000. Lindbrook Capital LLC boosted 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 acquiring an additional 553 shares in the last quarter. Neo Ivy Capital Management bought a new position in PENN Entertainment in the fourth quarter valued at approximately $40,000. Finally, Signaturefd LLC raised its position in 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 purchasing an additional 727 shares in the last quarter. 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.