Oregon Public Employees Retirement Fund grew its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 261.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 46,286 shares of the company’s stock after acquiring an additional 33,485 shares during the period. Oregon Public Employees Retirement Fund’s holdings in PENN Entertainment were worth $1,273,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. SJS Investment Consulting Inc. purchased a new stake in PENN Entertainment during the 3rd quarter valued at about $27,000. Archer Investment Corp boosted its holdings in PENN Entertainment by 1,694.9% during the 2nd quarter. Archer Investment Corp now owns 1,059 shares of the company’s stock valued at $32,000 after acquiring an additional 1,000 shares during the period. Stonebridge Capital Advisors LLC purchased a new stake in PENN Entertainment during the 1st quarter valued at about $50,000. Emerald Advisers LLC purchased a new stake in PENN Entertainment during the 3rd quarter valued at about $33,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in PENN Entertainment during the 3rd quarter valued at about $39,000. 84.40% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
PENN has been the subject of several analyst reports. StockNews.com cut PENN Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, November 12th. Truist Financial dropped their price objective on PENN Entertainment from $40.00 to $36.00 in a report on Wednesday, January 11th. Canaccord Genuity Group started coverage on PENN Entertainment in a report on Thursday, October 6th. They issued a “buy” rating for the company. JMP Securities dropped their price objective on PENN Entertainment from $48.00 to $45.00 and set a “market outperform” rating for the company in a report on Friday. Finally, Jefferies Financial Group cut PENN Entertainment from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $50.00 to $34.00 in a report on Monday, January 9th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.59.
Insiders Place Their Bets
PENN Entertainment Stock Up 3.4 %
PENN stock opened at $32.85 on Monday. PENN Entertainment, Inc. has a twelve month low of $25.49 and a twelve month high of $51.72. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.87. The firm has a market cap of $5.10 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.56 and a beta of 2.18. The business has a 50 day moving average of $32.90 and a 200 day moving average of $32.28.
PENN Entertainment (NASDAQ:PENN – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.72 earnings per share for the quarter, beating 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. On average, research analysts forecast that PENN Entertainment, Inc. will post 1.47 EPS for the current fiscal year.
About PENN Entertainment
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.
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