PENN Entertainment (NASDAQ:PENN) Trading Down 5.5% – What’s Next?

PENN Entertainment, Inc. (NASDAQ:PENN)’s share price fell 5.5% during mid-day trading on Friday . The company traded as low as $17.74 and last traded at $18.21. 3,709,501 shares were traded during mid-day trading, a decline of 18% from the average session volume of 4,523,543 shares. The stock had previously closed at $19.27.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PENN. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Needham & Company LLC dropped their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Mizuho lifted their price target on shares of PENN Entertainment from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Bank of America began coverage on shares of PENN Entertainment in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price target on the stock. Finally, StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.69.

PENN Entertainment Stock Performance

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 firm has a fifty day moving average price of $20.41 and a 200 day moving average price of $19.79. The firm has a market cap of $2.80 billion, a PE ratio of -5.15, a price-to-earnings-growth ratio of 1.55 and a beta of 2.19.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc raised its holdings in shares of PENN Entertainment by 201.5% during the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after acquiring an additional 1,052 shares during the period. Quest Partners LLC purchased a new position in shares of PENN Entertainment during the 3rd quarter worth $56,000. Modus Advisors LLC purchased a new position in shares of PENN Entertainment during the 4th quarter worth $63,000. Lee Danner & Bass Inc. purchased a new position in shares of PENN Entertainment during the 4th quarter worth $92,000. Finally, KBC Group NV raised its holdings in shares of PENN Entertainment by 36.5% during the 4th quarter. KBC Group NV now owns 5,501 shares of the company’s stock worth $109,000 after acquiring an additional 1,470 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.