PENN Entertainment (NASDAQ:PENN) Given New $23.00 Price Target at Susquehanna

PENN Entertainment (NASDAQ:PENN) had its target price cut by Susquehanna from $26.00 to $23.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a positive rating on the stock.

Other analysts also recently issued research reports about the company. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Stifel Nicolaus reduced their price objective on shares of PENN Entertainment from $22.00 to $19.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Needham & Company LLC dropped their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Macquarie reiterated an “outperform” rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Friday, February 28th. Finally, Benchmark reissued a “hold” rating on shares of PENN Entertainment in a report on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, PENN Entertainment presently has an average rating of “Hold” and an average target price of $23.44.

PENN Entertainment Trading Down 0.1 %

Shares of NASDAQ:PENN opened at $14.27 on Tuesday. The stock has a 50 day moving average of $18.18 and a 200 day moving average of $19.20. The company has a market cap of $2.18 billion, a PE ratio of -4.02, a price-to-earnings-growth ratio of 1.55 and a beta of 1.96. PENN Entertainment has a 12-month low of $13.25 and a 12-month high of $23.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34.

Institutional Trading of PENN Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of PENN. Proficio Capital Partners LLC bought a new position in shares of PENN Entertainment in the fourth quarter worth about $596,000. Harbor Capital Advisors Inc. boosted its position in PENN Entertainment by 8.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company’s stock valued at $11,851,000 after buying an additional 46,209 shares during the period. ING Groep NV bought a new position in PENN Entertainment in the 4th quarter worth about $9,910,000. IFP Advisors Inc increased its position in shares of PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after acquiring an additional 1,052 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of PENN Entertainment by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,337,162 shares of the company’s stock valued at $26,503,000 after acquiring an additional 55,138 shares in the last quarter. Hedge funds and other 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.