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

PENN Entertainment (NASDAQ:PENN) had its price target dropped by stock analysts at Stifel Nicolaus from $22.00 to $19.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 9.20% from the company’s previous close.

PENN has been the subject of several other research reports. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a report on Thursday, January 16th. JPMorgan Chase & Co. upgraded shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $19.00 to $27.00 in a report on Friday, December 13th. Wells Fargo & Company boosted their price target on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Macquarie restated an “outperform” rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Friday, February 28th. Finally, Needham & Company LLC reduced their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.56.

PENN Entertainment Trading Up 5.3 %

Shares of PENN opened at $17.40 on Tuesday. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $23.08. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -4.90, a PEG ratio of 1.55 and a beta of 2.19. The company has a 50-day moving average of $20.04 and a 200 day moving average of $19.66.

Institutional Trading of PENN Entertainment

Large investors have recently bought and sold shares of the stock. IFP Advisors Inc grew its position in PENN Entertainment by 201.5% during the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after purchasing an additional 1,052 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of PENN Entertainment in the 3rd quarter valued at $56,000. Modus Advisors LLC purchased a new stake in shares of PENN Entertainment in the 4th quarter valued at $63,000. Lee Danner & Bass Inc. purchased a new stake in shares of PENN Entertainment in the 4th quarter valued at $92,000. Finally, KBC Group NV boosted its holdings in shares of PENN Entertainment by 36.5% in the 4th quarter. KBC Group NV now owns 5,501 shares of the company’s stock valued at $109,000 after acquiring an additional 1,470 shares during 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.