Swiss National Bank Sells 42,300 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Swiss National Bank lowered its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,484 shares of the company’s stock after selling 42,300 shares during the quarter. Swiss National Bank owned about 0.20% of PENN Entertainment worth $7,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kettle Hill Capital Management LLC bought a new stake in shares of PENN Entertainment in the 3rd quarter valued at about $19,792,000. Fred Alger Management LLC purchased a new position in PENN Entertainment in the third quarter worth $1,750,000. Sei Investments Co. grew its holdings in PENN Entertainment by 13.9% in the third 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. Blue Trust Inc. increased its position in shares of PENN Entertainment by 20.0% during the fourth quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock worth $140,000 after purchasing an additional 896 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of PENN Entertainment by 126.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 123,706 shares of the company’s stock valued at $3,219,000 after purchasing an additional 69,020 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Up 6.6 %

PENN Entertainment stock opened at $16.90 on Wednesday. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $29.38. The stock has a market capitalization of $2.58 billion, a PE ratio of -2.27 and a beta of 2.06. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50 day simple moving average of $17.19 and a 200-day simple moving average of $20.98.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data 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). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. On average, analysts anticipate that PENN Entertainment, Inc. will post -1.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of PENN Entertainment in a report on Thursday, May 2nd. Mizuho boosted their target price on shares of PENN Entertainment from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Company decreased their price target on shares of PENN Entertainment from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, May 3rd. Finally, Barclays dropped their price objective on shares of PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PENN Entertainment presently has an average rating of “Hold” and an average target price of $24.96.

Insider Buying and Selling at PENN Entertainment

In other news, Director David A. Handler purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the transaction, the director now owns 243,450 shares of the company’s stock, valued at $3,741,826.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Felicia Hendrix purchased 16,157 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was acquired at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the transaction, the chief financial officer now directly owns 68,596 shares of the company’s stock, valued at $1,061,180.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David A. Handler purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $15.37 per share, with a total value of $307,400.00. Following the acquisition, the director now owns 243,450 shares of the company’s stock, valued at approximately $3,741,826.50. The disclosure for this purchase can be found here. Insiders own 2.19% of the company’s stock.

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.