Stifel Nicolaus Cuts PENN Entertainment (NASDAQ:PENN) Price Target to $19.00

by · The Cerbat Gem

PENN Entertainment (NASDAQ:PENN – Free Report) had its target price lowered by Stifel Nicolaus from $22.00 to $19.00 in a report issued on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other research analysts have also weighed in on PENN. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $27.00 in a research report on Friday, December 13th. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research report on Monday, March 3rd. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. StockNews.com upgraded PENN Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Mizuho increased their price objective on PENN Entertainment from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.56.

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PENN Entertainment Price Performance

NASDAQ:PENN opened at $17.16 on Tuesday. PENN Entertainment has a one year low of $13.50 and a one year high of $23.08. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $2.62 billion, a PE ratio of -4.83, a P/E/G ratio of 1.55 and a beta of 2.19. The stock has a 50 day moving average price of $20.01 and a 200 day moving average price of $19.64.

Institutional Trading of PENN Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of PENN. DME Capital Management LP lifted its holdings in PENN Entertainment by 2.3% during the 4th quarter. DME Capital Management LP now owns 5,748,440 shares of the company’s stock worth $113,934,000 after buying an additional 127,670 shares during the last quarter. Invesco Ltd. lifted its holdings in PENN Entertainment by 28.0% during the 4th quarter. Invesco Ltd. now owns 3,882,009 shares of the company’s stock worth $76,941,000 after buying an additional 848,066 shares during the last quarter. Geode Capital Management LLC lifted its holdings in PENN Entertainment by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 2,500,342 shares of the company’s stock worth $49,572,000 after buying an additional 152,791 shares during the last quarter. Kettle Hill Capital Management LLC lifted its holdings in PENN Entertainment by 43.1% during the 4th quarter. Kettle Hill Capital Management LLC now owns 1,801,787 shares of the company’s stock worth $35,711,000 after buying an additional 542,585 shares during the last quarter. Finally, Contrarius Group Holdings Ltd purchased a new stake in PENN Entertainment during the 4th quarter worth about $34,994,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Company Profile

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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.

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