PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. cut its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 12.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 16,425 shares of the company’s stock after selling 2,354 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in PENN Entertainment were worth $268,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PENN. Blue Trust Inc. grew its stake in shares of PENN Entertainment by 56.0% during the 1st quarter. Blue Trust Inc. now owns 8,839 shares of the company’s stock valued at $144,000 after buying an additional 3,174 shares during the period. Byrne Asset Management LLC boosted its position in PENN Entertainment by 201.1% during the 1st quarter. Byrne Asset Management LLC now owns 2,710 shares of the company’s stock worth $44,000 after purchasing an additional 1,810 shares during the period. GAMMA Investing LLC boosted its position in PENN Entertainment by 38.7% during the 1st quarter. GAMMA Investing LLC now owns 2,636 shares of the company’s stock worth $43,000 after purchasing an additional 736 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in PENN Entertainment by 33.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 264,587 shares of the company’s stock worth $5,244,000 after purchasing an additional 65,596 shares during the period. Finally, Tidal Investments LLC boosted its position in PENN Entertainment by 11.7% during the 4th quarter. Tidal Investments LLC now owns 16,626 shares of the company’s stock worth $330,000 after purchasing an additional 1,738 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Canaccord Genuity Group decreased their price target on shares of PENN Entertainment from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Citizens Jmp raised shares of PENN Entertainment from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Thursday, June 26th. Truist Financial decreased their price objective on shares of PENN Entertainment from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus increased their price target on shares of PENN Entertainment from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Monday, May 19th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.18.

Insider Buying and Selling

In related news, Director David A. Handler acquired 10,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $14.83 per share, for a total transaction of $148,300.00. Following the completion of the purchase, the director directly owned 322,941 shares of the company’s stock, valued at $4,789,215.03. The trade was a 3.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jay A. Snowden acquired 34,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average price of $14.70 per share, for a total transaction of $499,800.00. Following the purchase, the chief executive officer directly owned 1,082,625 shares of the company’s stock, valued at approximately $15,914,587.50. This trade represents a 3.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.67% of the stock is owned by company insiders.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $17.83 on Friday. The firm’s 50 day moving average is $16.49 and its two-hundred day moving average is $17.67. PENN Entertainment, Inc. has a 52 week low of $13.25 and a 52 week high of $23.08. The firm has a market capitalization of $2.69 billion, a P/E ratio of -28.76 and a beta of 1.61. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.35.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04. PENN Entertainment had a negative net margin of 1.28% and a negative return on equity of 5.75%. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business earned ($0.76) earnings per share. PENN Entertainment’s revenue was up 4.1% compared to the same quarter last year. Analysts anticipate that PENN Entertainment, Inc. will post -1.61 earnings per share for the current year.

About PENN Entertainment

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.