River & Mercantile Asset Management LLP Has $1.84 Million Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

River & Mercantile Asset Management LLP lifted its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 26.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,923 shares of the company’s stock after buying an additional 14,200 shares during the quarter. River & Mercantile Asset Management LLP’s holdings in PENN Entertainment were worth $1,841,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. HG Vora Capital Management LLC grew its holdings in shares of PENN Entertainment by 114.3% during the third quarter. HG Vora Capital Management LLC now owns 7,500,000 shares of the company’s stock valued at $206,325,000 after buying an additional 4,000,000 shares during the last quarter. Contrarius Investment Management Ltd acquired a new position in shares of PENN Entertainment during the second quarter valued at about $75,776,000. Renaissance Technologies LLC grew its holdings in shares of 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 buying an additional 30,823 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 valued at $79,854,000 after purchasing an additional 97,988 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in shares of PENN Entertainment by 42.8% during the first quarter. Earnest Partners LLC now owns 1,662,997 shares of the company’s stock valued at $70,544,000 after purchasing an additional 498,084 shares in the last quarter. 84.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PENN Entertainment

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

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $26.56 on Thursday. The company has a 50 day moving average of $31.76 and a 200 day moving average of $31.75. The stock has a market cap of $4.05 billion, a P/E ratio of 20.59, 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 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 (NASDAQ:PENN – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The company reported $0.13 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 net margin of 3.47% and a return on equity of 5.98%. PENN Entertainment’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. As a group, sell-side analysts forecast that PENN Entertainment, Inc. will post 1.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Bank of America dropped their price target on shares of PENN Entertainment from $40.00 to $35.00 in a research report on Wednesday, January 4th. Jefferies Financial Group lowered shares of PENN Entertainment from a “buy” rating to a “hold” rating and dropped their price target for the company from $50.00 to $34.00 in a research report on Monday, January 9th. Needham & Company LLC dropped their price target on shares of PENN Entertainment from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Morgan Stanley dropped their price target on shares of PENN Entertainment from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 1st. Finally, Truist Financial raised their price target on shares of PENN Entertainment from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.13.

PENN Entertainment 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.