Cetera Investment Advisers Reduces Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Cetera Investment Advisers decreased its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,793 shares of the company’s stock after selling 5,535 shares during the period. Cetera Investment Advisers’ holdings in PENN Entertainment were worth $1,284,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in PENN Entertainment during the fourth quarter worth $596,000. Raymond James Financial Inc. acquired a new stake in shares of PENN Entertainment during the fourth quarter worth $17,804,000. ING Groep NV acquired a new stake in shares of PENN Entertainment during the fourth quarter worth $9,910,000. IFP Advisors Inc boosted its holdings in shares of PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after purchasing an additional 1,052 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of PENN Entertainment by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,337,162 shares of the company’s stock worth $26,503,000 after purchasing an additional 55,138 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

PENN has been the topic of several analyst reports. Needham & Company LLC decreased their price objective on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Truist Financial decreased their price objective on PENN Entertainment from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Benchmark restated a “hold” rating on shares of PENN Entertainment in a report on Monday. Susquehanna decreased their price objective on PENN Entertainment from $26.00 to $23.00 and set a “positive” rating on the stock in a report on Tuesday, April 15th. Finally, Morgan Stanley decreased their price objective on PENN Entertainment from $17.50 to $16.50 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.10.

PENN Entertainment Trading Down 6.6%

Shares of PENN opened at $14.20 on Thursday. The stock’s 50-day moving average is $15.65 and its two-hundred day moving average is $18.54. The stock has a market cap of $2.14 billion, a PE ratio of -4.00, a P/E/G ratio of 1.55 and a beta of 1.81. PENN Entertainment, Inc. has a 12 month low of $13.25 and a 12 month high of $23.08. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.71 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.76) earnings per share. Equities analysts forecast that PENN Entertainment, Inc. will post -1.61 earnings per share for the current fiscal 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.