PENN Entertainment (NASDAQ:PENN) Now Covered by Analysts at Benchmark

Equities researchers at Benchmark initiated coverage on shares of PENN Entertainment (NASDAQ:PENN) in a research report issued on Tuesday, Briefing.com reports. The brokerage set a “hold” rating on the stock.

Other equities research analysts have also recently issued reports about the company. Truist Financial dropped their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a report on Friday, February 16th. Mizuho initiated coverage on PENN Entertainment in a research report on Tuesday, March 26th. They issued a “buy” rating and a $29.00 price objective on the stock. StockNews.com lowered PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Morgan Stanley increased their price objective on PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Needham & Company LLC decreased their price objective on PENN Entertainment from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.38.

PENN Entertainment Trading Down 2.5 %

PENN stock opened at $16.28 on Tuesday. The business has a fifty day moving average price of $18.47 and a 200 day moving average price of $21.63. PENN Entertainment has a fifty-two week low of $16.10 and a fifty-two week high of $31.63. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -4.47 and a beta of 2.06. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. Analysts expect that PENN Entertainment will post -0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of PENN Entertainment in the 4th quarter valued at about $59,504,000. ING Groep NV acquired a new stake in shares of PENN Entertainment in the 4th quarter valued at about $32,556,000. Kettle Hill Capital Management LLC acquired a new stake in shares of PENN Entertainment in the 3rd quarter valued at about $19,792,000. Renaissance Technologies LLC raised its stake in shares of PENN Entertainment by 79.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company’s stock valued at $75,891,000 after purchasing an additional 791,500 shares during the period. Finally, Sei Investments Co. raised its stake in shares of PENN Entertainment by 52.8% in the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after purchasing an additional 725,221 shares during the period. 91.69% of the stock is currently owned by institutional investors.

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.