Needham & Company LLC Has Lowered Expectations for PENN Entertainment (NASDAQ:PENN) Stock Price

PENN Entertainment (NASDAQ:PENN) had its price objective decreased by Needham & Company LLC from $26.00 to $25.00 in a research note released on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the stock. StockNews.com cut shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Friday, January 17th. Jefferies Financial Group raised their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, January 3rd. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research note on Thursday, January 16th. Susquehanna dropped their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. raised shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $27.00 in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.38.

PENN Entertainment Trading Up 5.5 %

NASDAQ:PENN opened at $21.51 on Friday. 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 has a market capitalization of $3.28 billion, a price-to-earnings ratio of -6.06, a PEG ratio of 1.55 and a beta of 2.09. The firm has a fifty day simple moving average of $20.29 and a two-hundred day simple moving average of $19.78. PENN Entertainment has a 12 month low of $13.50 and a 12 month high of $23.08.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. M&T Bank Corp lifted its position in shares of PENN Entertainment by 4.2% during the third quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock valued at $235,000 after purchasing an additional 497 shares in the last quarter. Westside Investment Management Inc. increased its holdings in PENN Entertainment by 3.2% during the fourth quarter. Westside Investment Management Inc. now owns 19,849 shares of the company’s stock worth $393,000 after buying an additional 620 shares during the last quarter. XTX Topco Ltd increased its holdings in PENN Entertainment by 2.8% during the third quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock worth $441,000 after buying an additional 641 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in PENN Entertainment by 4.0% during the third quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company’s stock worth $328,000 after buying an additional 665 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in PENN Entertainment by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 14,774 shares of the company’s stock worth $293,000 after buying an additional 813 shares during the last quarter. 91.69% of the stock is owned by 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.