Brokerages Set PENN Entertainment, Inc. (NASDAQ:PENN) PT at $32.29

Shares of PENN Entertainment, Inc. (NASDAQ:PENNGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $32.29.

Several research firms have issued reports on PENN. Truist Financial cut their price objective on PENN Entertainment from $30.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, October 18th. Bank of America upgraded PENN Entertainment from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $30.00 in a research report on Monday, November 20th. Morgan Stanley dropped their price objective on PENN Entertainment from $24.00 to $22.00 and set an “equal weight” rating for the company in a research report on Monday, November 13th. Needham & Company LLC reiterated a “buy” rating and set a $33.00 price objective on shares of PENN Entertainment in a research report on Monday, December 11th. Finally, TheStreet cut PENN Entertainment from a “c-” rating to a “d” rating in a research report on Friday, November 10th.

Read Our Latest Stock Analysis on PENN Entertainment

PENN Entertainment Trading Up 0.5 %

NASDAQ:PENN opened at $23.39 on Tuesday. The stock has a fifty day moving average price of $24.05 and a two-hundred day moving average price of $23.39. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -20.52, a PEG ratio of 30.08 and a beta of 2.13. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.41 and a current ratio of 1.42. PENN Entertainment has a 1 year low of $18.35 and a 1 year high of $32.86.

Insiders Place Their Bets

In other news, EVP Christopher Byron Rogers sold 5,017 shares of PENN Entertainment stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $25.23, for a total value of $126,578.91. Following the transaction, the executive vice president now directly owns 30,214 shares of the company’s stock, valued at approximately $762,299.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jay A. Snowden sold 172,930 shares of PENN Entertainment stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $25.25, for a total value of $4,366,482.50. Following the transaction, the chief executive officer now directly owns 689,072 shares of the company’s stock, valued at approximately $17,399,068. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher Byron Rogers sold 5,017 shares of PENN Entertainment stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $25.23, for a total value of $126,578.91. Following the completion of the transaction, the executive vice president now directly owns 30,214 shares in the company, valued at $762,299.22. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of PENN. Guggenheim Capital LLC lifted its position in PENN Entertainment by 1.1% during the 1st quarter. Guggenheim Capital LLC now owns 39,364 shares of the company’s stock worth $1,670,000 after acquiring an additional 431 shares in the last quarter. National Bank of Canada FI lifted its position in PENN Entertainment by 12.6% during the 3rd quarter. National Bank of Canada FI now owns 4,162 shares of the company’s stock worth $94,000 after acquiring an additional 466 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in PENN Entertainment by 44.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,592 shares of the company’s stock worth $68,000 after acquiring an additional 493 shares in the last quarter. Tyler Stone Wealth Management lifted its position in PENN Entertainment by 34.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock worth $45,000 after acquiring an additional 500 shares in the last quarter. Finally, Jump Financial LLC lifted its position in PENN Entertainment by 1.4% during the 3rd quarter. Jump Financial LLC now owns 36,289 shares of the company’s stock worth $833,000 after acquiring an additional 510 shares in the last quarter. 82.34% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Company Profile

(Get Free Report

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet Sportbook and Casino.

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Analyst Recommendations for PENN Entertainment (NASDAQ:PENN)

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