PENN Entertainment Inc. (NASDAQ:PENN) closed Wednesday at $35.67 per share, down from $36.13 a day earlier. While PENN Entertainment Inc. has underperformed by -1.27%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PENN fell by -31.15%, with highs and lows ranging from $54.08 to $25.49, whereas the simple moving average jumped by 1.16% in the last 200 days.
Do You Own These 7 Inflation-Survival Stocks?
Inflation is still near 40-year highs and rising prices are putting a big dent in our wallets. Unless you find out how to protect your portfolio and outpace inflation, you'll keep being at the mercy of economic factors out of your control. Especially since the price of electricity, food, and shelter are creeping up higher than ever. In this special report, I detail 7 stocks to help you survive and thrive in today's market. They're backed by solid companies, positioned to profit during tough economic times, and offer out-sized dividends to help you outpace inflation.
Click here to get your free copy of the report
On November 21, 2022, Morgan Stanley started tracking PENN Entertainment Inc. (NASDAQ: PENN) recommending Equal-Weight. A report published by Canaccord Genuity on October 06, 2022, Initiated its previous ‘Buy’ rating for PENN. JMP Securities also rated PENN shares as ‘Mkt Outperform’, setting a target price of $52 on the company’s shares in an initiating report dated June 28, 2022. Morgan Stanley April 25, 2022d its ‘Equal-Weight’ rating to ‘Overweight’ for PENN, as published in its report on April 25, 2022. Susquehanna’s report from February 09, 2022 suggests a price prediction of $65 for PENN shares, giving the stock a ‘Positive’ rating. Loop Capital also rated the stock as ‘Hold’.
Analysis of PENN Entertainment Inc. (PENN)
Further, the quarter-over-quarter increase in sales is 7.50%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of PENN Entertainment Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 6.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and PENN is recording an average volume of 3.81M. On a monthly basis, the volatility of the stock is set at 4.68%, whereas on a weekly basis, it is put at 3.52%, with a loss of -3.96% over the past seven days. Furthermore, long-term investors anticipate a median target price of $47.53, showing growth from the present price of $35.67, which can serve as yet another indication of whether PENN is worth investing in or should be passed over.
How Do You Analyze PENN Entertainment Inc. Shares?
PENN Entertainment Inc. (PENN) is based in the USA and is one of the most prominent companies operating in the Resorts & Casinos market. When comparing PENN Entertainment Inc. shares with other companies under Consumer Cyclical, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 25.89, there is a growth in quarterly earnings of 43.30%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 85.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in PENN shares?
The recent increase in stakes in PENN appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co’s position in PENN has increased by 2.79% in the first quarter. The company now owns 18,517,552 shares of the stock, with a value of $612.93 million, following the purchase of 502,425 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in PENN during the first quarter, downing its stake by -17.43%. During the last quarter, the company picked up -3,005,143 additional shares for a total stake of worth $471.23 million, bringing number of shares owned by the company to 14,236,694.
During the first quarter, BlackRock Fund Advisors added a 4,740,507 position in PENN. BAMCO, Inc. sold an additional -0.12 million shares in the last quarter, decreasing its holdings by -1.43%, now holding 8.57 million shares worth $283.68 million. At the end of the first quarter, HG Vora Capital Management LLC increased its PENN holdings by 114.29% and now holds 7.5 million PENN shares valued at $248.25 million with the added 4.0 million shares during the period. PENN shares are owned by institutional investors to the tune of 85.70% at present.