PENN Entertainment, Inc. (NASDAQ:PENN) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its stake in PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,981 shares of the company’s stock after acquiring an additional 4,687 shares during the period. Commonwealth Equity Services LLC’s holdings in PENN Entertainment were worth $1,870,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. HG Vora Capital Management LLC raised its stake in PENN Entertainment by 114.3% during the 3rd quarter. HG Vora Capital Management LLC now owns 7,500,000 shares of the company’s stock valued at $206,325,000 after acquiring an additional 4,000,000 shares in the last quarter. Contrarius Investment Management Ltd acquired a new stake in shares of PENN Entertainment in the second quarter worth $75,776,000. Renaissance Technologies LLC grew its position in PENN Entertainment by 1.3% during the third quarter. Renaissance Technologies LLC now owns 2,345,461 shares of the company’s stock valued at $64,524,000 after purchasing an additional 30,823 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PENN Entertainment by 5.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,882,461 shares of the company’s stock worth $79,854,000 after acquiring an additional 97,988 shares in the last quarter. Finally, Earnest Partners LLC lifted its stake in PENN Entertainment by 42.8% in the first quarter. Earnest Partners LLC now owns 1,662,997 shares of the company’s stock valued at $70,544,000 after acquiring an additional 498,084 shares during the last quarter. 84.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PENN has been the subject of several research reports. MKM Partners increased their price objective on PENN Entertainment from $33.00 to $35.00 in a research report on Friday, February 3rd. Wells Fargo & Company increased their target price on PENN Entertainment from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 25th. JPMorgan Chase & Co. cut PENN Entertainment from an “overweight” rating to a “neutral” rating and increased their price target for the company from $38.00 to $39.00 in a research report on Monday, November 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $45.00 target price on shares of PENN Entertainment in a research report on Friday, February 3rd. Finally, StockNews.com upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating in a research report on Tuesday, March 7th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, PENN Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $40.13.

PENN Entertainment Trading Down 5.4 %

Shares of PENN stock opened at $26.78 on Tuesday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 1.87. PENN Entertainment, Inc. has a 12-month low of $25.49 and a 12-month high of $45.41. 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. The firm’s 50 day moving average is $31.90 and its 200 day moving average is $31.82.

PENN Entertainment (NASDAQ:PENN – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 3.47% and a return on equity of 5.98%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 EPS. Research analysts expect that PENN Entertainment, Inc. will post 1.44 earnings per share for the current year.

Insider Transactions at PENN Entertainment

In other news, CEO Jay A. Snowden sold 163,475 shares of PENN Entertainment 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 directly owns 604,527 shares of the company’s stock, valued at approximately $18,208,353.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other PENN Entertainment news, Director Saul Reibstein sold 39,457 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $33.39, for a total value of $1,317,469.23. Following the transaction, the director now owns 37,055 shares of the company’s stock, valued at approximately $1,237,266.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay A. Snowden sold 163,475 shares of PENN Entertainment stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 604,527 shares of the company’s stock, valued at approximately $18,208,353.24. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

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.