PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,009 shares of the company’s stock after selling 908 shares during the period. Yousif Capital Management LLC’s holdings in PENN Entertainment were worth $522,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Proficio Capital Partners LLC purchased a new stake in shares of PENN Entertainment during the 4th quarter worth $596,000. Raymond James Financial Inc. purchased a new stake in shares of PENN Entertainment during the 4th quarter worth $17,804,000. ING Groep NV purchased a new stake in shares of PENN Entertainment during the 4th quarter worth $9,910,000. IFP Advisors Inc lifted its position in shares of PENN Entertainment by 201.5% during the 4th 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. lifted its position in shares of PENN Entertainment by 4.3% during the 4th 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. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Stock Down 1.3%

NASDAQ PENN opened at $17.05 on Friday. The stock has a fifty day moving average of $15.54 and a 200-day moving average of $17.82. The stock has a market capitalization of $2.57 billion, a P/E ratio of -27.50 and a beta of 1.56. PENN Entertainment, Inc. has a 52 week low of $13.25 and a 52 week high of $23.08. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.74 and a current ratio of 0.74.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.04. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.71 billion. PENN Entertainment had a negative return on equity of 5.75% and a negative net margin of 1.28%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.76) earnings per share. On average, equities research analysts forecast that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

Insiders Place Their Bets

In other news, Director David A. Handler purchased 10,000 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average cost of $14.83 per share, with a total value of $148,300.00. Following the completion of the purchase, the director now owns 322,941 shares of the company’s stock, valued at $4,789,215.03. This trade represents a 3.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jay A. Snowden acquired 34,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $14.70 per share, with a total value of $499,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,082,625 shares of the company’s stock, valued at $15,914,587.50. The trade was a 3.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PENN. Truist Financial cut their target price on shares of PENN Entertainment from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Needham & Company LLC reduced their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, February 28th. Macquarie reaffirmed an “outperform” rating and issued a $26.00 target price on shares of PENN Entertainment in a report on Friday, February 28th. Stifel Nicolaus reduced their target price on shares of PENN Entertainment from $22.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. Finally, Mizuho reduced their target price on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, May 12th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, PENN Entertainment presently has an average rating of “Hold” and an average price target of $23.23.

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.