PENN Entertainment (NASDAQ:PENN) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

PENN Entertainment (NASDAQ:PENN) had its price target hoisted by Stifel Nicolaus from $20.00 to $21.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also recently issued reports about the company. Truist Financial reduced their price target on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 target price on shares of PENN Entertainment in a report on Friday, November 8th. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a report on Thursday, January 16th. Finally, Morgan Stanley reduced their target price on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.50.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $22.44 on Tuesday. The stock has a market cap of $3.42 billion, a P/E ratio of -6.32, a price-to-earnings-growth ratio of 1.53 and a beta of 2.09. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock’s 50-day moving average is $19.84 and its 200-day moving average is $19.53. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $22.96.

Hedge Funds Weigh In On PENN Entertainment

Institutional investors have recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of PENN Entertainment by 201.5% during the fourth 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 period. DekaBank Deutsche Girozentrale acquired a new position in shares of PENN Entertainment during the third quarter worth approximately $45,000. GAMMA Investing LLC raised its position in shares of PENN Entertainment by 88.5% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after purchasing an additional 1,275 shares during the period. Quest Partners LLC acquired a new position in shares of PENN Entertainment during the third quarter worth approximately $56,000. Finally, Modus Advisors LLC acquired a new position in shares of PENN Entertainment during the fourth quarter worth approximately $63,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.