PENN Entertainment (NASDAQ:PENN) Sees Strong Trading Volume

PENN Entertainment, Inc. (NASDAQ:PENN) saw unusually-high trading volume on Friday . Approximately 2,513,156 shares traded hands during mid-day trading, a decline of 55% from the previous session’s volume of 5,562,471 shares.The stock last traded at $16.80 and had previously closed at $16.91.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus decreased their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Needham & Company LLC decreased their target price on PENN Entertainment from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Mizuho began coverage on PENN Entertainment in a research report on Tuesday, March 26th. They issued a “buy” rating and a $29.00 price target for the company. Macquarie cut their price target on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Finally, Truist Financial lowered their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.38.

PENN Entertainment Stock Down 1.2 %

The firm has a market capitalization of $2.55 billion, a PE ratio of -4.59 and a beta of 2.06. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. The firm has a 50-day moving average of $18.57 and a two-hundred day moving average of $21.68.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities research analysts forecast that PENN Entertainment, Inc. will post -0.86 EPS for the current year.

Institutional Trading of PENN Entertainment

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its stake in shares of PENN Entertainment by 80.3% during the first quarter. CWM LLC now owns 13,614 shares of the company’s stock worth $248,000 after purchasing an additional 6,063 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of PENN Entertainment by 12.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,942 shares of the company’s stock valued at $363,000 after buying an additional 1,522 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in PENN Entertainment by 7.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock worth $252,000 after acquiring an additional 632 shares in the last quarter. Vanguard Group Inc. boosted its holdings in PENN Entertainment by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 14,729,920 shares of the company’s stock worth $383,273,000 after acquiring an additional 97,945 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in PENN Entertainment in the fourth quarter valued at approximately $16,341,000. 91.69% of the stock is owned by hedge funds and other 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.