PENN Entertainment, Inc. (NASDAQ:PENN) Shares Purchased by Comerica Bank

Comerica Bank boosted its position in PENN Entertainment, Inc. (NASDAQ:PENNGet Rating) by 254.4% in the third quarter, Holdings Channel.com reports. The firm owned 52,351 shares of the company’s stock after acquiring an additional 37,578 shares during the quarter. Comerica Bank’s holdings in PENN Entertainment were worth $1,610,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC increased its holdings in PENN Entertainment by 21.5% in the first quarter. Cetera Advisor Networks LLC now owns 7,719 shares of the company’s stock valued at $327,000 after buying an additional 1,365 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in PENN Entertainment by 92.0% in the first quarter. PNC Financial Services Group Inc. now owns 15,883 shares of the company’s stock valued at $674,000 after buying an additional 7,612 shares in the last quarter. Natixis Advisors L.P. purchased a new position in PENN Entertainment in the first quarter valued at about $556,000. MetLife Investment Management LLC increased its holdings in PENN Entertainment by 24.3% in the first quarter. MetLife Investment Management LLC now owns 45,633 shares of the company’s stock valued at $1,936,000 after buying an additional 8,931 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in PENN Entertainment by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,228 shares of the company’s stock valued at $943,000 after buying an additional 1,377 shares in the last quarter. Institutional investors and hedge funds own 84.40% of the company’s stock.

Insiders Place Their Bets

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

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $32.85 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.55 and a beta of 2.18. The firm’s fifty day simple moving average is $32.90 and its 200 day simple moving average is $32.27. PENN Entertainment, Inc. has a twelve month low of $25.49 and a twelve month high of $51.72.

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

Wall Street Analyst Weigh In

PENN has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of PENN Entertainment from $38.00 to $33.00 and set an “equal weight” rating for the company in a research note on Friday, October 21st. Truist Financial dropped their price objective on shares of PENN Entertainment from $40.00 to $36.00 in a research note on Wednesday, January 11th. StockNews.com cut shares of PENN Entertainment from a “buy” rating to a “hold” rating in a research note on Saturday, November 12th. Stifel Nicolaus cut shares of PENN Entertainment from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $45.00 to $35.00 in a research note on Friday, January 6th. Finally, JPMorgan Chase & Co. cut shares of PENN Entertainment from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $38.00 to $39.00 in a research note on Monday, November 28th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.59.

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.

Further Reading

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Institutional Ownership by Quarter for PENN Entertainment (NASDAQ:PENN)

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