GAMMA Investing LLC trimmed its holdings in PENN Entertainment, Inc. (NASDAQ:PENN – Free Report) by 30.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,900 shares of the company’s stock after selling 816 shares during the quarter. GAMMA Investing LLC’s holdings in PENN Entertainment were worth $38,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DME Capital Management LP increased its holdings in shares of PENN Entertainment by 11.9% in the 2nd quarter. DME Capital Management LP now owns 5,095,340 shares of the company’s stock valued at $98,620,000 after acquiring an additional 540,630 shares during the period. Earnest Partners LLC grew its holdings in PENN Entertainment by 4.6% in the second quarter. Earnest Partners LLC now owns 4,117,946 shares of the company’s stock valued at $79,703,000 after purchasing an additional 179,813 shares during the last quarter. Armistice Capital LLC raised its position in PENN Entertainment by 91.9% during the second quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock worth $51,156,000 after acquiring an additional 1,266,023 shares during the last quarter. Sei Investments Co. grew its holdings in PENN Entertainment by 3.7% during the 2nd quarter. Sei Investments Co. now owns 2,461,074 shares of the company’s stock valued at $47,634,000 after buying an additional 88,797 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in PENN Entertainment by 4,624.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock valued at $28,183,000 after purchasing an additional 1,425,274 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have commented on PENN shares. Macquarie lifted their price target on PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Jefferies Financial Group lifted their target price on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, January 3rd. Bank of America began coverage on shares of PENN Entertainment in a research report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price target on the stock. Wells Fargo & Company raised their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Mizuho cut their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, PENN Entertainment has a consensus rating of “Hold” and a consensus price target of $23.44.
PENN Entertainment Stock Performance
Shares of NASDAQ:PENN opened at $20.65 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $24.57. The company’s 50 day moving average price is $19.93 and its two-hundred day moving average price is $19.34. The firm has a market cap of $3.15 billion, a PE ratio of -5.82 and a beta of 2.08.
PENN Entertainment (NASDAQ:PENN – Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. PENN Entertainment’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 earnings per share. Equities research analysts predict that PENN Entertainment, Inc. will post -1.55 earnings per share for the current year.
PENN Entertainment Company 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.
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