Wipfli Financial Advisors LLC Makes New Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

Wipfli Financial Advisors LLC bought a new position in PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) during the third quarter, Holdings Channel.com reports. The institutional investor bought 1,412 shares of the company’s stock, valued at approximately $39,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Comerica Bank increased its stake in PENN Entertainment by 2.0% in the 2nd quarter. Comerica Bank now owns 14,773 shares of the company’s stock worth $489,000 after acquiring an additional 296 shares during the last quarter. Focused Wealth Management Inc increased its stake in PENN Entertainment by 3.7% in the 3rd quarter. Focused Wealth Management Inc now owns 9,697 shares of the company’s stock worth $267,000 after acquiring an additional 345 shares during the last quarter. Guggenheim Capital LLC increased its stake in PENN Entertainment by 1.1% in the 1st quarter. Guggenheim Capital LLC now owns 39,364 shares of the company’s stock worth $1,670,000 after acquiring an additional 431 shares during the last quarter. Sandy Spring Bank increased its stake in PENN Entertainment by 4.2% in the 2nd quarter. Sandy Spring Bank now owns 10,725 shares of the company’s stock worth $326,000 after acquiring an additional 435 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of PENN Entertainment by 5.0% in the 2nd quarter. US Bancorp DE now owns 9,319 shares of the company’s stock worth $283,000 after purchasing an additional 447 shares in the last quarter. 84.40% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $32.48 on Wednesday. The stock has a fifty day moving average of $33.03 and a 200 day moving average of $32.27. PENN Entertainment, Inc. has a 52 week low of $25.49 and a 52 week high of $51.72. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 1.55 and a beta of 2.18. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.87.

PENN Entertainment (NASDAQ:PENN – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.34. PENN Entertainment had a return on equity of 6.42% and a net margin of 3.86%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. As a group, research analysts expect that PENN Entertainment, Inc. will post 1.47 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PENN. Truist Financial cut their price objective on PENN Entertainment from $40.00 to $36.00 in a report on Wednesday, January 11th. Canaccord Genuity Group began coverage on PENN Entertainment in a report on Thursday, October 6th. They issued a “buy” rating for the company. Jefferies Financial Group cut PENN Entertainment from a “buy” rating to a “hold” rating and cut their price objective for the stock from $50.00 to $34.00 in a report on Monday, January 9th. Stifel Nicolaus cut PENN Entertainment from a “buy” rating to a “hold” rating and cut their price objective for the stock from $45.00 to $35.00 in a report on Friday, January 6th. Finally, CBRE Group cut their price objective on PENN Entertainment from $57.00 to $54.00 and set a “buy” rating for the company in a report on Friday, November 4th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.61.

Insider Buying and Selling

In related news, CEO Jay A. Snowden sold 163,475 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $30.12, for a total value of $4,923,867.00. Following the completion of the sale, the chief executive officer now owns 604,527 shares of the company’s stock, valued at $18,208,353.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

PENN Entertainment Company Profile

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PENN Entertainment, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.