PENN Entertainment (NASDAQ:PENN) Hits New 1-Year Low at $16.27

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) reached a new 52-week low during trading on Monday . The stock traded as low as $16.27 and last traded at $16.29, with a volume of 1711547 shares changing hands. The stock had previously closed at $16.70.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PENN. Morgan Stanley raised their price target 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. Macquarie dropped their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Truist Financial decreased their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Mizuho assumed coverage on shares of PENN Entertainment in a research report on Tuesday, March 26th. They issued a “buy” rating and a $29.00 price objective on the stock. Finally, Needham & Company LLC decreased their price objective on shares of 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 analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.38.

PENN Entertainment Stock Performance

The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50-day simple moving average of $18.36 and a 200-day simple moving average of $21.58.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data 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 company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, equities analysts anticipate that PENN Entertainment, Inc. will post -0.86 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Kettle Hill Capital Management LLC purchased a new position in PENN Entertainment in the 3rd quarter worth approximately $19,792,000. Source Financial Advisors LLC increased its position in shares of PENN Entertainment by 1,061.1% during the 3rd quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock valued at $7,404,000 after purchasing an additional 294,845 shares during the last quarter. Fred Alger Management LLC bought a new position in shares of PENN Entertainment during the 3rd quarter valued at approximately $1,750,000. Sei Investments Co. increased its position in shares of PENN Entertainment by 13.9% during the 3rd quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock valued at $31,510,000 after purchasing an additional 167,445 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of PENN Entertainment by 20.0% during the 4th quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock valued at $140,000 after purchasing an additional 896 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Company Profile

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.