PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 4.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 42,065 shares of the company’s stock after selling 1,816 shares during the period. Arizona State Retirement System’s holdings in PENN Entertainment were worth $1,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in PENN Entertainment in the third quarter valued at $29,000. Huntington National Bank raised its stake in 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 buying an additional 1,072 shares in the last quarter. Quarry LP raised its stake in PENN Entertainment by 95.1% in the second quarter. Quarry LP now owns 1,383 shares of the company’s stock valued at $33,000 after buying an additional 674 shares in the last quarter. Tyler Stone Wealth Management acquired a new stake in PENN Entertainment in the second quarter valued at $35,000. Finally, Money Concepts Capital Corp raised its stake in PENN Entertainment by 85.4% in the fourth quarter. Money Concepts Capital Corp now owns 1,309 shares of the company’s stock valued at $39,000 after buying an additional 603 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Macquarie cut their price target on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Mizuho began coverage on PENN Entertainment in a research report on Tuesday, March 26th. They set a “buy” rating and a $29.00 target price on the stock. Needham & Company LLC cut their target price on PENN Entertainment from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Morgan Stanley lifted their target price on PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.38.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $16.28 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. PENN Entertainment, Inc. has a 52-week low of $16.10 and a 52-week high of $31.63. The business’s 50-day moving average price is $18.47 and its 200 day moving average price is $21.63. The firm has a market cap of $2.48 billion, a P/E ratio of -4.47 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities research analysts expect that PENN Entertainment, Inc. will post -0.86 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.