Phocas Financial Corp. Sells 1,306 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Phocas Financial Corp. decreased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 203,479 shares of the company’s stock after selling 1,306 shares during the period. Phocas Financial Corp. owned about 0.13% of PENN Entertainment worth $4,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PENN. Renaissance Technologies LLC grew its position in shares of PENN Entertainment by 15.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,700,338 shares of the company’s stock valued at $80,200,000 after purchasing an additional 354,877 shares during the last quarter. Geode Capital Management LLC grew its position in shares of PENN Entertainment by 2.2% in the first quarter. Geode Capital Management LLC now owns 2,321,981 shares of the company’s stock valued at $68,870,000 after purchasing an additional 50,999 shares during the last quarter. Earnest Partners LLC grew its position in shares of PENN Entertainment by 0.4% in the fourth quarter. Earnest Partners LLC now owns 2,178,332 shares of the company’s stock valued at $64,696,000 after purchasing an additional 8,308 shares during the last quarter. Norges Bank acquired a new position in shares of PENN Entertainment in the fourth quarter valued at approximately $59,504,000. Finally, Charles Schwab Investment Management Inc. grew its position in 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 buying an additional 97,988 shares in the last quarter. Institutional investors own 82.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group reduced their price target on PENN Entertainment from $44.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Deutsche Bank Aktiengesellschaft reduced their price target on PENN Entertainment from $30.00 to $29.00 in a research report on Thursday, August 10th. Craig Hallum downgraded PENN Entertainment from a “buy” rating to a “hold” rating and reduced their price target for the stock from $56.00 to $30.00 in a research report on Thursday, August 10th. Morgan Stanley reduced their price target on PENN Entertainment from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Truist Financial downgraded PENN Entertainment from a “buy” rating to a “hold” rating and reduced their price target for the stock from $33.00 to $30.00 in a research report on Thursday, August 10th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.67.

PENN Entertainment Trading Up 0.5 %

PENN Entertainment stock traded up $0.11 during trading hours on Tuesday, reaching $23.52. 1,838,955 shares of the company’s stock were exchanged, compared to its average volume of 3,399,583. The company has a quick ratio of 1.39, a current ratio of 1.41 and a debt-to-equity ratio of 1.22. The firm’s 50 day simple moving average is $24.42 and its 200 day simple moving average is $26.03. PENN Entertainment, Inc. has a twelve month low of $21.32 and a twelve month high of $39.35. The firm has a market capitalization of $3.55 billion, a PE ratio of 5.34, a PEG ratio of 2.98 and a beta of 2.19.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.09. PENN Entertainment had a return on equity of 7.10% and a net margin of 11.24%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the business posted $0.15 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. Research analysts predict that PENN Entertainment, Inc. will post 1.71 earnings per share for the current year.

Insider Activity

In other news, CFO Felicia Hendrix bought 11,162 shares of PENN Entertainment stock in a transaction dated Wednesday, September 6th. The stock was bought at an average cost of $22.41 per share, for a total transaction of $250,140.42. Following the purchase, the chief financial officer now directly owns 27,975 shares in the company, valued at approximately $626,919.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

PENN Entertainment Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet Sportbook and Casino.