Rothschild Investment Corp IL cut its stake in PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 63.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,881 shares of the company’s stock after selling 27,325 shares during the quarter. Rothschild Investment Corp IL’s holdings in PENN Entertainment were worth $483,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. raised its holdings in PENN Entertainment by 19.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,848 shares of the company’s stock worth $78,000 after purchasing an additional 305 shares in the last quarter. Eaton Vance Management increased its stake in shares of PENN Entertainment by 0.7% in the 4th quarter. Eaton Vance Management now owns 42,445 shares of the company’s stock worth $1,826,000 after acquiring an additional 312 shares in the last quarter. Xponance Inc. increased its stake in shares of PENN Entertainment by 2.8% in the 1st quarter. Xponance Inc. now owns 11,592 shares of the company’s stock worth $492,000 after acquiring an additional 313 shares in the last quarter. Adalta Capital Management LLC increased its stake in shares of PENN Entertainment by 4.4% in the 1st quarter. Adalta Capital Management LLC now owns 8,981 shares of the company’s stock worth $381,000 after acquiring an additional 375 shares in the last quarter. Finally, Lee Danner & Bass Inc. increased its stake in shares of PENN Entertainment by 2.0% in the 1st quarter. Lee Danner & Bass Inc. now owns 20,095 shares of the company’s stock worth $852,000 after acquiring an additional 400 shares in the last quarter. 82.62% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
PENN has been the subject of several research reports. JMP Securities initiated 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 for the company. Truist Financial decreased their price target on shares of PENN Entertainment from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Wells Fargo & Company decreased their price target on shares of PENN Entertainment from $48.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Credit Suisse Group decreased their price target on shares of PENN Entertainment to $66.00 in a research note on Tuesday, August 9th. Finally, Barclays increased their price objective on shares of PENN Entertainment from $37.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.50.
Insider Activity at PENN Entertainment
PENN Entertainment Trading Down 2.6 %
PENN Entertainment stock opened at $30.59 on Wednesday. The stock has a market cap of $4.85 billion, a P/E ratio of 25.07, a PEG ratio of 19.97 and a beta of 2.24. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.90 and a quick ratio of 1.90. PENN Entertainment, Inc. has a 1 year low of $26.46 and a 1 year high of $81.66. The firm’s 50 day moving average price is $33.28 and its 200-day moving average price is $34.71.
PENN Entertainment (NASDAQ:PENN – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.35). The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.60 billion. PENN Entertainment had a net margin of 3.33% and a return on equity of 5.65%. PENN Entertainment’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 earnings per share. On average, equities analysts predict that PENN Entertainment, Inc. will post 1.3 earnings per share for the current fiscal year.
PENN Entertainment Company 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 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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