PENN Entertainment, Inc. (NASDAQ:PENN) Position Lowered by Private Advisor Group LLC

Private Advisor Group LLC decreased its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENNGet Rating) by 69.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,639 shares of the company’s stock after selling 82,830 shares during the period. Private Advisor Group LLC’s holdings in PENN Entertainment were worth $1,554,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sageworth Trust Co of South Dakota acquired a new stake in PENN Entertainment during the fourth quarter worth about $25,000. Citizens National Bank Trust Department acquired a new stake in PENN Entertainment during the fourth quarter worth about $26,000. San Luis Wealth Advisors LLC acquired a new stake in PENN Entertainment during the first quarter worth about $26,000. Masso Torrence Wealth Management Inc. acquired a new stake in PENN Entertainment during the fourth quarter worth about $37,000. Finally, Reitz Capital Advisors LLC acquired a new stake in PENN Entertainment during the first quarter worth about $33,000. Institutional investors and hedge funds own 82.62% of the company’s stock.

Insider Buying and Selling

In related news, Director Saul Reibstein sold 5,086 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $38.03, for a total value of $193,420.58. Following the completion of the transaction, the director now owns 34,663 shares of the company’s stock, valued at approximately $1,318,233.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.

PENN Entertainment Trading Up 2.5 %

Shares of NASDAQ:PENN opened at $31.30 on Monday. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 20.49 and a beta of 2.23. PENN Entertainment, Inc. has a 1-year low of $26.46 and a 1-year high of $86.40. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.90 and a current ratio of 1.90. The company has a 50 day moving average price of $33.19 and a 200 day moving average price of $36.51.

PENN Entertainment (NASDAQ:PENNGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.35). PENN Entertainment had a return on equity of 5.65% and a net margin of 3.33%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the business posted $1.17 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts anticipate that PENN Entertainment, Inc. will post 1.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Wednesday, May 18th. Wells Fargo & Company dropped their price target on shares of PENN Entertainment from $48.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 14th. Barclays raised their price target on shares of PENN Entertainment from $37.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Truist Financial dropped their price target on shares of PENN Entertainment from $60.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Finally, JMP Securities assumed coverage on shares of PENN Entertainment in a research note on Tuesday, June 28th. They issued an “outperform” rating and a $52.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

PENN Entertainment Profile

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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 44 properties in 20 states; online sports betting in 13 jurisdictions; and iCasino in five under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet.

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Institutional Ownership by Quarter for PENN Entertainment (NASDAQ:PENN)

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