Corient Private Wealth LLC Buys 3,425 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Corient Private Wealth LLC lifted its stake in PENN Entertainment, Inc. (NASDAQ:PENNFree Report) by 16.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,495 shares of the company’s stock after buying an additional 3,425 shares during the period. Corient Private Wealth LLC’s holdings in PENN Entertainment were worth $637,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PENN. Kettle Hill Capital Management LLC bought a new stake in shares of PENN Entertainment in the 3rd quarter worth approximately $19,792,000. Fred Alger Management LLC acquired a new stake in PENN Entertainment during the third quarter worth $1,750,000. Natixis Advisors L.P. increased its holdings in PENN Entertainment by 59.2% in the 4th quarter. Natixis Advisors L.P. now owns 180,766 shares of the company’s stock valued at $4,703,000 after buying an additional 67,218 shares during the period. Sei Investments Co. increased 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 valued at $31,510,000 after buying an additional 167,445 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in shares of PENN Entertainment by 21.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 19,732 shares of the company’s stock valued at $513,000 after buying an additional 3,481 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $16.35 on Thursday. The firm has a 50 day simple moving average of $16.55 and a 200 day simple moving average of $20.24. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $29.38. 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 firm has a market cap of $2.49 billion, a P/E ratio of -2.19 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENNGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. Sell-side analysts predict that PENN Entertainment, Inc. will post -1.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PENN has been the topic of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Benchmark restated a “hold” rating on shares of PENN Entertainment in a research report on Friday, May 3rd. Craig Hallum lowered their price target on PENN Entertainment from $25.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Finally, Bank of America downgraded shares of PENN Entertainment from a “buy” rating to a “neutral” rating and reduced their target price for the company from $28.00 to $17.50 in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.30.

Read Our Latest Research Report on PENN

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, CFO Felicia Hendrix purchased 16,157 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $15.47 per share, with a total value of $249,948.79. Following the completion of the purchase, the chief financial officer now directly owns 68,596 shares in the company, valued at approximately $1,061,180.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Felicia Hendrix acquired 16,157 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $15.47 per share, with a total value of $249,948.79. Following the completion of the purchase, the chief financial officer now directly owns 68,596 shares in the company, valued at $1,061,180.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Handler bought 40,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was bought at an average cost of $14.94 per share, for a total transaction of $597,600.00. Following the purchase, the director now directly owns 283,450 shares of the company’s stock, valued at approximately $4,234,743. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 76,157 shares of company stock worth $1,154,949. Company insiders own 2.19% of the company’s stock.

PENN Entertainment Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PENN Entertainment (NASDAQ:PENN)

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