PENN Entertainment (NASDAQ:PENN) Hits New 12-Month Low – Here’s Why

by · The Markets Daily

PENN Entertainment, Inc. (NASDAQ:PENN – Get Free Report)’s share price hit a new 52-week low on Friday . The company traded as low as $13.25 and last traded at $13.80, with a volume of 1793734 shares. The stock had previously closed at $15.45.

Analyst Ratings Changes

Several brokerages have recently issued reports on PENN. Macquarie reaffirmed an “outperform” rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Friday, February 28th. StockNews.com upgraded shares of PENN Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Mizuho upped their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Finally, Needham & Company LLC dropped their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Ten equities 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, PENN Entertainment currently has a consensus rating of “Hold” and an average price target of $23.56.

Read Our Latest Stock Report on PENN Entertainment

PENN Entertainment Stock Down 9.9 %

The business’s fifty day simple moving average is $19.36 and its 200 day simple moving average is $19.54. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of -3.91, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19. 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 Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. M&T Bank Corp lifted its position in PENN Entertainment by 4.2% in the 3rd quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock valued at $235,000 after acquiring an additional 497 shares in the last quarter. Westside Investment Management Inc. boosted its stake in shares of PENN Entertainment by 3.2% during the 4th quarter. Westside Investment Management Inc. now owns 19,849 shares of the company’s stock worth $393,000 after buying an additional 620 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of PENN Entertainment by 2.8% in the 3rd quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock valued at $441,000 after acquiring an additional 641 shares in the last quarter. CIBC Asset Management Inc boosted its position in PENN Entertainment by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 14,774 shares of the company’s stock valued at $293,000 after purchasing an additional 813 shares during the last quarter. Finally, IFP Advisors Inc grew its stake 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 purchasing an additional 1,052 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Company Profile

(Get Free Report)

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.

See Also