PENN Entertainment (NASDAQ:PENN) Reaches New 52-Week High – Should You Buy?

Shares of PENN Entertainment, Inc. (NASDAQ:PENN) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $23.08 and last traded at $22.67, with a volume of 350567 shares. The stock had previously closed at $22.44.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Bank of America assumed coverage on PENN Entertainment in a research report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 target price on the stock. Mizuho lowered their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Truist Financial lowered their target price on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Friday, November 8th. Finally, Benchmark reissued a “hold” rating on shares of PENN Entertainment in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, PENN Entertainment presently has an average rating of “Hold” and a consensus price target of $23.50.

PENN Entertainment Stock Up 1.4 %

The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $3.47 billion, a PE ratio of -6.41, a price-to-earnings-growth ratio of 1.53 and a beta of 2.09. The business has a fifty day moving average of $19.86 and a 200-day moving average of $19.55.

Institutional Trading of PENN Entertainment

A number of large investors have recently modified their holdings of the company. M&T Bank Corp boosted its holdings in shares of PENN Entertainment by 4.2% in 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 during the period. Westside Investment Management Inc. raised its stake in PENN Entertainment by 3.2% in 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 in the last quarter. XTX Topco Ltd raised its stake in PENN Entertainment by 2.8% in 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 in the last quarter. Nisa Investment Advisors LLC raised its stake in PENN Entertainment by 4.0% in 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 in the last quarter. Finally, CIBC Asset Management Inc raised its stake in PENN Entertainment by 5.8% in 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 in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.