United Services Automobile Association Takes Position in PENN Entertainment, Inc. (NASDAQ:PENN)

United Services Automobile Association acquired a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,806 shares of the company’s stock, valued at approximately $656,000.

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

Insider Activity at PENN Entertainment

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

Wall Street Analyst Weigh In

PENN has been the subject of a number of analyst reports. Credit Suisse Group decreased their price target on PENN Entertainment from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. JMP Securities restated a “market outperform” rating and issued a $45.00 price target on shares of PENN Entertainment in a report on Friday, February 3rd. Needham & Company LLC decreased their price target on PENN Entertainment from $60.00 to $50.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Wells Fargo & Company upped their price target on PENN Entertainment from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 25th. Finally, StockNews.com upgraded PENN Entertainment from a “hold” rating to a “buy” rating in a report on Tuesday, March 7th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.13.

PENN Entertainment Stock Performance

PENN stock opened at $26.95 on Wednesday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 1.87. The firm has a market cap of $4.11 billion, a P/E ratio of 20.89, a P/E/G ratio of 1.09 and a beta of 2.22. PENN Entertainment, Inc. has a 12-month low of $25.49 and a 12-month high of $45.41. The stock’s 50 day simple moving average is $31.85 and its 200 day simple moving average is $31.78.

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 analyst estimates of $1.58 billion. PENN Entertainment had a net margin of 3.47% and a return on equity of 5.98%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. As a group, equities research analysts predict that PENN Entertainment, Inc. will post 1.44 EPS for the current year.

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.