PENN Entertainment (NASDAQ:PENN) Price Target Raised to $24.00

PENN Entertainment (NASDAQ:PENN) had its price objective increased by Wells Fargo & Company from $20.00 to $24.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages have also commented on PENN. Jefferies Financial Group upped their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. StockNews.com lowered shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, January 17th. Bank of America started coverage on shares of PENN Entertainment in a research report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price target for the company. Susquehanna dropped their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research report on Monday, November 4th. Finally, Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $23.69.

PENN Entertainment Stock Performance

Shares of PENN opened at $20.09 on Monday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -5.66, a PEG ratio of 1.55 and a beta of 2.09. The company’s 50 day simple moving average is $20.41 and its 200 day simple moving average is $19.81. PENN Entertainment has a 1 year low of $13.50 and a 1 year high of $23.08.

Institutional Investors Weigh In On PENN Entertainment

Large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in PENN Entertainment by 201.5% during the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock valued at $31,000 after purchasing an additional 1,052 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in PENN Entertainment during the 3rd quarter worth $45,000. Quest Partners LLC bought a new stake in shares of PENN Entertainment in the 3rd quarter worth about $56,000. International Assets Investment Management LLC increased its position in shares of PENN Entertainment by 1,634.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after purchasing an additional 3,057 shares during the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of PENN Entertainment in the 4th quarter worth about $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.