PENN Entertainment (NASDAQ:PENN) Reaches New 1-Year Low at $13.52

PENN Entertainment, Inc. (NASDAQ:PENN) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $13.52 and last traded at $13.70, with a volume of 4896566 shares changing hands. The stock had previously closed at $16.44.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PENN shares. Canaccord Genuity Group dropped their price objective on shares of PENN Entertainment from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday. Benchmark started coverage on shares of PENN Entertainment in a research note on Tuesday, April 16th. They issued a “hold” rating on the stock. Morgan Stanley boosted their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com cut shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, Barclays lowered their price target on shares of PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.13.

PENN Entertainment Stock Performance

The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -3.88 and a beta of 2.06. The stock’s 50 day moving average is $17.51 and its 200 day moving average is $21.24. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60.

PENN Entertainment (NASDAQ:PENN) last released its earnings results 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 firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. On average, analysts predict that PENN Entertainment, Inc. will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PENN. Norges Bank purchased a new position in PENN Entertainment in the 4th quarter valued at about $42,758,000. ING Groep NV purchased a new position in shares of PENN Entertainment during the 4th quarter worth about $32,556,000. Kettle Hill Capital Management LLC purchased a new position in shares of PENN Entertainment during the 3rd quarter worth about $19,792,000. Sei Investments Co. lifted its holdings in shares of PENN Entertainment by 52.8% during the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after acquiring an additional 725,221 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of PENN Entertainment during the 4th quarter worth about $16,341,000. 91.69% of the stock is currently owned by hedge funds and other 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.