Allspring Global Investments Holdings LLC Purchases 826 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Allspring Global Investments Holdings LLC lifted its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,952 shares of the company’s stock after buying an additional 826 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PENN Entertainment were worth $285,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Kettle Hill Capital Management LLC bought a new stake in shares of PENN Entertainment in the 3rd quarter valued at approximately $19,792,000. Source Financial Advisors LLC lifted its holdings in PENN Entertainment by 1,061.1% in the 3rd quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock worth $7,404,000 after purchasing an additional 294,845 shares during the last quarter. Fred Alger Management LLC acquired a new stake in PENN Entertainment in the 3rd quarter worth approximately $1,750,000. Sei Investments Co. lifted its holdings in PENN Entertainment by 13.9% in the 3rd quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock worth $31,510,000 after purchasing an additional 167,445 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in PENN Entertainment by 20.0% in the 4th quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock worth $140,000 after purchasing an additional 896 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

Shares of NASDAQ PENN opened at $16.86 on Friday. The business has a fifty day simple moving average of $17.58 and a 200 day simple moving average of $21.33. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -4.63 and a beta of 2.06. PENN Entertainment, Inc. has a one year low of $15.88 and a one year high of $31.63.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. Sell-side analysts expect that PENN Entertainment, Inc. will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

PENN has been the subject of several analyst reports. Needham & Company LLC reduced their target price on PENN Entertainment from $33.00 to $32.00 and set a “buy” rating for the company in a report on Friday, February 16th. Mizuho initiated coverage on PENN Entertainment in a report on Tuesday, March 26th. They issued a “buy” rating and a $29.00 target price for the company. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a report on Tuesday, April 23rd. Barclays reduced their target price on PENN Entertainment from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Finally, Macquarie reduced 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 investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PENN Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $29.80.

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.