PENN Entertainment (NASDAQ:PENN) Now Covered by Raymond James

Equities researchers at Raymond James began coverage on shares of PENN Entertainment (NASDAQ:PENN) in a research report issued on Tuesday, Marketbeat.com reports. The firm set an “outperform” rating and a $20.00 price target on the stock. Raymond James’ price objective suggests a potential upside of 24.69% from the stock’s previous close.

PENN has been the topic of a number of other reports. Bank of America downgraded shares of PENN Entertainment from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $28.00 to $17.50 in a report on Monday, May 13th. Macquarie decreased their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Mizuho upped their price objective on shares of PENN Entertainment from $29.00 to $32.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Truist Financial upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, April 23rd. Finally, StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.18.

PENN Entertainment Price Performance

Shares of PENN opened at $16.04 on Tuesday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -2.15 and a beta of 2.06. PENN Entertainment has a 1-year low of $13.50 and a 1-year high of $29.38. The company’s fifty day simple moving average is $16.89 and its 200 day simple moving average is $20.78. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33.

Insider Activity

In related news, Director David A. Handler acquired 20,000 shares of the stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $15.37 per share, for a total transaction of $307,400.00. Following the purchase, the director now directly owns 243,450 shares of the company’s stock, valued at approximately $3,741,826.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other PENN Entertainment news, Director David A. Handler purchased 20,000 shares of PENN Entertainment stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $15.37 per share, with a total value of $307,400.00. Following the transaction, the director now owns 243,450 shares in the company, valued at approximately $3,741,826.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Felicia Hendrix purchased 16,157 shares of PENN Entertainment stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $15.47 per share, with a total value of $249,948.79. Following the transaction, the chief financial officer now owns 68,596 shares in the company, valued at approximately $1,061,180.12. The disclosure for this purchase can be found here. 2.19% of the stock is currently owned by company insiders.

Institutional Trading of PENN Entertainment

Several hedge funds have recently bought and sold shares of PENN. Huntington National Bank boosted its holdings in PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after acquiring an additional 1,072 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in PENN Entertainment during the 4th quarter worth $32,000. Lindbrook Capital LLC raised its stake in shares of PENN Entertainment by 57.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after purchasing an additional 553 shares during the period. Neo Ivy Capital Management bought a new stake in shares of PENN Entertainment during the 4th quarter worth $40,000. Finally, Signaturefd LLC raised its stake in shares of PENN Entertainment by 60.8% during the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock worth $44,000 after purchasing an additional 727 shares during the period. Institutional investors and hedge funds 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.