PENN Entertainment, Inc. (NASDAQ:PENN) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP grew its holdings in PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 31.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 263,435 shares of the company’s stock after acquiring an additional 63,066 shares during the period. First Trust Advisors LP’s holdings in PENN Entertainment were worth $7,247,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PENN. SJS Investment Consulting Inc. acquired a new position in shares of PENN Entertainment during the third quarter worth $27,000. Emerald Advisers LLC acquired a new position in shares of PENN Entertainment during the third quarter worth $33,000. Wipfli Financial Advisors LLC acquired a new position in shares of PENN Entertainment during the third quarter worth $39,000. Guardian Wealth Advisors LLC acquired a new position in shares of PENN Entertainment during the third quarter worth $46,000. Finally, Stonebridge Capital Advisors LLC acquired a new position in shares of PENN Entertainment during the first quarter worth $50,000. Institutional investors and hedge funds own 84.40% of the company’s stock.

PENN Entertainment Trading Down 5.4 %

NASDAQ PENN opened at $26.78 on Tuesday. The stock has a market capitalization of $4.09 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.09 and a beta of 2.22. PENN Entertainment, Inc. has a 52-week low of $25.49 and a 52-week high of $45.41. The firm has a 50-day moving average price of $31.90 and a 200 day moving average price of $31.82. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 1.87.

PENN Entertainment (NASDAQ:PENN – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.20). The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. PENN Entertainment had a return on equity of 5.98% and a net margin of 3.47%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. Equities research analysts expect that PENN Entertainment, Inc. will post 1.44 EPS for the current year.

Insiders Place Their Bets

In other PENN Entertainment news, CEO Jay A. Snowden sold 163,475 shares of the company’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $30.12, for a total transaction of $4,923,867.00. Following the transaction, the chief executive officer now directly owns 604,527 shares in the company, valued at $18,208,353.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PENN Entertainment news, Director Saul Reibstein sold 39,457 shares of the company’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $33.39, for a total transaction of $1,317,469.23. Following the transaction, the director now directly owns 37,055 shares in the company, valued at $1,237,266.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jay A. Snowden sold 163,475 shares of the company’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $30.12, for a total transaction of $4,923,867.00. Following the transaction, the chief executive officer now owns 604,527 shares in the company, valued at $18,208,353.24. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PENN has been the subject of a number of analyst reports. Needham & Company LLC lowered their target price on shares of PENN Entertainment from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. JPMorgan Chase & Co. downgraded shares of PENN Entertainment from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $38.00 to $39.00 in a research note on Monday, November 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PENN Entertainment from $35.00 to $31.00 in a research note on Friday, February 3rd. MKM Partners upped their price objective on shares of PENN Entertainment from $33.00 to $35.00 in a research note on Friday, February 3rd. Finally, Truist Financial upped their price objective on shares of PENN Entertainment from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, PENN Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $40.13.

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, Interactive, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.