PENN Entertainment (NASDAQ:PENN) Research Coverage Started at Raymond James

Raymond James assumed coverage on shares of PENN Entertainment (NASDAQ:PENN) in a report released on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $20.00 price objective on the stock.

PENN has been the subject of several other reports. Barclays reduced their price objective on PENN Entertainment from $26.00 to $22.00 and set an overweight rating for the company in a research report on Friday, May 3rd. Truist Financial raised PENN Entertainment from a hold rating to a buy rating and set a $23.00 target price on the stock in a report on Tuesday, April 23rd. Mizuho boosted their target price on PENN Entertainment from $29.00 to $32.00 and gave the stock a buy rating in a report on Friday, May 3rd. Macquarie dropped their target price on PENN Entertainment from $35.00 to $33.00 and set an outperform rating on the stock in a report on Friday, February 16th. Finally, JMP Securities reissued a market perform rating on shares of PENN Entertainment in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $24.18.

PENN Entertainment Stock Performance

Shares of NASDAQ PENN opened at $15.44 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. The stock has a 50 day simple moving average of $16.84 and a 200-day simple moving average of $20.75. The company has a market cap of $2.35 billion, a PE ratio of -2.07 and a beta of 2.06. PENN Entertainment has a 12-month low of $13.50 and a 12-month high of $29.38.

Insider Buying and Selling at PENN Entertainment

In other news, CFO Felicia Hendrix bought 16,157 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $15.47 per share, with a total value of $249,948.79. Following the purchase, the chief financial officer now directly owns 68,596 shares in the company, valued at $1,061,180.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Felicia Hendrix purchased 16,157 shares of the stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the acquisition, the chief financial officer now directly owns 68,596 shares in the company, valued at approximately $1,061,180.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Handler purchased 20,000 shares of the stock in a transaction dated Monday, May 6th. The shares were bought at an average price of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the acquisition, the director now owns 243,450 shares in the company, valued at $3,741,826.50. The disclosure for this purchase can be found here. Company insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On PENN Entertainment

A number of hedge funds have recently bought and sold shares of PENN. Norges Bank bought a new stake in PENN Entertainment during the fourth quarter valued at about $42,758,000. ING Groep NV acquired a new position in shares of PENN Entertainment during the fourth quarter valued at about $32,556,000. Kettle Hill Capital Management LLC acquired a new position in shares of PENN Entertainment during the third quarter valued at about $19,792,000. Invenomic Capital Management LP raised its position in shares of PENN Entertainment by 71.9% during the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock valued at $34,313,000 after buying an additional 787,968 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of PENN Entertainment by 52.8% during the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after buying an additional 725,221 shares during the last quarter. 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.