Raymond James & Associates Buys 23,662 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Raymond James & Associates grew its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 32.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 96,669 shares of the company’s stock after acquiring an additional 23,662 shares during the quarter. Raymond James & Associates’ holdings in PENN Entertainment were worth $2,515,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Stonebridge Capital Advisors LLC bought a new stake in shares of PENN Entertainment during the 1st quarter worth $50,000. Money Concepts Capital Corp lifted its position in shares of PENN Entertainment by 85.4% during the 4th quarter. Money Concepts Capital Corp now owns 1,309 shares of the company’s stock worth $39,000 after buying an additional 603 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of PENN Entertainment during the 3rd quarter worth $29,000. Quarry LP lifted its position in shares of PENN Entertainment by 95.1% during the 2nd quarter. Quarry LP now owns 1,383 shares of the company’s stock worth $33,000 after buying an additional 674 shares during the last quarter. Finally, Huntington National Bank lifted its position in shares of PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after buying an additional 1,072 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Down 2.5 %

PENN stock opened at $16.28 on Tuesday. PENN Entertainment, Inc. has a twelve month low of $16.10 and a twelve month high of $31.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.60. The stock’s 50 day moving average is $18.47 and its 200-day moving average is $21.63. The firm has a market capitalization of $2.48 billion, a PE ratio of -4.47 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. Sell-side analysts expect that PENN Entertainment, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Needham & Company LLC dropped their price objective on PENN Entertainment from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Mizuho initiated coverage on PENN Entertainment in a research report on Tuesday, March 26th. They set a “buy” rating and a $29.00 price objective for the company. Stifel Nicolaus lowered their target price on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a report on Friday, February 16th. StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Finally, Macquarie lowered their target price on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment presently has an average rating of “Hold” and an average target price of $31.38.

PENN Entertainment 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.