PENN Entertainment (NASDAQ:PENN) Upgraded at JPMorgan Chase & Co.

PENN Entertainment (NASDAQ:PENN) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $27.00 target price on the stock, up from their previous target price of $19.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 34.93% from the stock’s current price.

A number of other brokerages have also issued reports on PENN. Truist Financial cut 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. Barclays cut their target price on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Craig Hallum reaffirmed a “buy” rating and issued a $30.00 target price on shares of PENN Entertainment in a research report on Tuesday, October 8th. Bank of America started coverage on PENN Entertainment in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 target price on the stock. Finally, Morgan Stanley cut their target price on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, PENN Entertainment has an average rating of “Hold” and an average target price of $23.53.

PENN Entertainment Stock Up 3.0 %

NASDAQ PENN opened at $20.01 on Friday. The stock has a market cap of $3.05 billion, a PE ratio of -5.64 and a beta of 2.08. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The business has a 50 day moving average price of $19.93 and a two-hundred day moving average price of $19.09. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. PENN Entertainment’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 EPS. As a group, sell-side analysts predict that PENN Entertainment will post -1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC bought a new position in PENN Entertainment during the 2nd quarter worth $4,535,000. Verition Fund Management LLC grew its stake in PENN Entertainment by 367.2% during the 3rd quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock worth $8,543,000 after buying an additional 356,029 shares during the last quarter. Quantbot Technologies LP grew its stake in PENN Entertainment by 84.7% during the 3rd quarter. Quantbot Technologies LP now owns 208,094 shares of the company’s stock worth $3,925,000 after buying an additional 95,423 shares during the last quarter. Janus Henderson Group PLC grew its stake in PENN Entertainment by 244.7% during the 3rd quarter. Janus Henderson Group PLC now owns 249,106 shares of the company’s stock worth $4,697,000 after buying an additional 176,844 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new position in PENN Entertainment during the 2nd quarter worth $6,363,000. 91.69% of the stock is currently owned by 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.