PENN Entertainment, Inc. (NASDAQ:PENN) Stake Boosted by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its position in PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,981 shares of the company’s stock after purchasing an additional 4,687 shares during the quarter. Commonwealth Equity Services LLC’s holdings in PENN Entertainment were worth $1,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. bought a new stake in PENN Entertainment in the third quarter worth about $27,000. Emerald Advisers LLC purchased a new stake in shares of PENN Entertainment during the third quarter worth $33,000. Wipfli Financial Advisors LLC acquired a new position in PENN Entertainment in the third quarter worth approximately $39,000. Guardian Wealth Advisors LLC acquired a new stake in shares of PENN Entertainment in the 3rd quarter valued at $46,000. Finally, Stonebridge Capital Advisors LLC bought a new stake in shares of PENN Entertainment during the 1st quarter worth about $50,000. Institutional investors and hedge funds own 84.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PENN shares. Jefferies Financial Group downgraded shares of PENN Entertainment from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $50.00 to $34.00 in a report on Monday, January 9th. JMP Securities reiterated a “market outperform” rating and set a $45.00 price objective on shares of PENN Entertainment in a report on Friday, February 3rd. Needham & Company LLC cut their price objective on PENN Entertainment from $60.00 to $50.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on PENN Entertainment from $35.00 to $31.00 in a report on Friday, February 3rd. Finally, StockNews.com upgraded PENN Entertainment from a “hold” rating to a “buy” rating in a research note on Tuesday, March 7th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PENN Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $40.13.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $26.78 on Tuesday. The company’s 50-day moving average price is $31.90 and its 200-day moving average price is $31.82. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 1.87. The company has a market cap of $4.09 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.09 and a beta of 2.22. PENN Entertainment, Inc. has a twelve month low of $25.49 and a twelve month high of $45.41.

PENN Entertainment (NASDAQ:PENN – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.20). PENN Entertainment had a return on equity of 5.98% and a net margin of 3.47%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the firm posted $0.26 earnings per share. PENN Entertainment’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts forecast that PENN Entertainment, Inc. will post 1.44 earnings per share for the current fiscal year.

Insider Activity at PENN Entertainment

In other PENN Entertainment news, Director Saul Reibstein sold 39,457 shares of the business’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $33.39, for a total value of $1,317,469.23. Following the completion of the transaction, the director now directly owns 37,055 shares in the company, valued at approximately $1,237,266.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PENN Entertainment news, CEO Jay A. Snowden sold 163,475 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $30.12, for a total transaction of $4,923,867.00. Following the completion of the sale, the chief executive officer now owns 604,527 shares in the company, valued at approximately $18,208,353.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Saul Reibstein sold 39,457 shares of the business’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $33.39, for a total value of $1,317,469.23. Following the completion of the sale, the director now directly owns 37,055 shares of the company’s stock, valued at $1,237,266.45. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

About PENN Entertainment

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PENN Entertainment, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest, Interactive, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.