Axxcess Wealth Management LLC Sells 19,613 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Axxcess Wealth Management LLC trimmed its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 68.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,232 shares of the company’s stock after selling 19,613 shares during the period. Axxcess Wealth Management LLC’s holdings in PENN Entertainment were worth $240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank raised its position in shares of PENN Entertainment by 324.8% in the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares during the period. Harbor Investment Advisory LLC acquired a new position in PENN Entertainment during the 4th quarter worth $32,000. Lindbrook Capital LLC boosted its holdings in PENN Entertainment by 57.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after acquiring an additional 553 shares during the period. Signaturefd LLC grew its position in shares of PENN Entertainment by 60.8% in the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after purchasing an additional 727 shares during the last quarter. Finally, Tyler Stone Wealth Management lifted its position in shares of PENN Entertainment by 34.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock worth $45,000 after purchasing an additional 500 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PENN has been the subject of a number of research analyst reports. StockNews.com lowered PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Macquarie dropped their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research note on Friday, May 3rd. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, April 23rd. Finally, Craig Hallum reduced their price objective on PENN Entertainment from $25.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, PENN Entertainment currently has a consensus rating of “Hold” and a consensus price target of $25.92.

Insiders Place Their Bets

In related news, CFO Felicia Hendrix bought 16,157 shares of the company’s stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $15.47 per share, with a total value of $249,948.79. Following the completion of the purchase, the chief financial officer now owns 68,596 shares in the company, valued at approximately $1,061,180.12. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other PENN Entertainment news, CFO Felicia Hendrix acquired 16,157 shares of PENN Entertainment stock in a transaction on Monday, May 6th. The shares were purchased at an average cost of $15.47 per share, with a total value of $249,948.79. Following the completion of the purchase, the chief financial officer now owns 68,596 shares in the company, valued at $1,061,180.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David A. Handler bought 20,000 shares of the stock in a transaction on Monday, May 6th. The shares were acquired at an average cost of $15.37 per share, with a total value of $307,400.00. Following the acquisition, the director now directly owns 243,450 shares in the company, valued at approximately $3,741,826.50. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock opened at $16.24 on Friday. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $29.38. The firm’s 50-day moving average price is $17.29 and its two-hundred day moving average price is $21.03. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -2.18 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. On average, equities analysts predict that PENN Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

PENN Entertainment Profile

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