Charles Schwab Investment Management Inc. Has $21.31 Million Stake in PENN Entertainment, Inc. $PENN

Charles Schwab Investment Management Inc. decreased its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,306,573 shares of the company’s stock after selling 30,589 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.87% of PENN Entertainment worth $21,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in PENN Entertainment by 38.7% in the first quarter. GAMMA Investing LLC now owns 2,636 shares of the company’s stock valued at $43,000 after buying an additional 736 shares during the period. Byrne Asset Management LLC increased its holdings in shares of PENN Entertainment by 201.1% in the first quarter. Byrne Asset Management LLC now owns 2,710 shares of the company’s stock worth $44,000 after acquiring an additional 1,810 shares in the last quarter. Signaturefd LLC increased its holdings in shares of PENN Entertainment by 1,371.6% in the first quarter. Signaturefd LLC now owns 7,211 shares of the company’s stock worth $118,000 after acquiring an additional 6,721 shares in the last quarter. KBC Group NV increased its holdings in shares of PENN Entertainment by 42.2% in the first quarter. KBC Group NV now owns 7,824 shares of the company’s stock worth $128,000 after acquiring an additional 2,323 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of PENN Entertainment by 56.0% in the first quarter. Blue Trust Inc. now owns 8,839 shares of the company’s stock worth $144,000 after acquiring an additional 3,174 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PENN shares. Benchmark restated a “hold” rating on shares of PENN Entertainment in a report on Monday, May 19th. Susquehanna restated a “positive” rating and issued a $25.00 price target (up from $24.00) on shares of PENN Entertainment in a report on Tuesday, June 10th. JPMorgan Chase & Co. started coverage on PENN Entertainment in a report on Monday, June 23rd. They issued an “overweight” rating and a $24.00 price target for the company. Morgan Stanley restated a “sell” rating on shares of PENN Entertainment in a report on Friday, July 11th. Finally, Wall Street Zen downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PENN Entertainment currently has an average rating of “Moderate Buy” and an average target price of $23.25.

Insider Buying and Selling at PENN Entertainment

In related news, Director David A. Handler purchased 20,000 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $16.96 per share, with a total value of $339,200.00. Following the transaction, the director directly owned 342,941 shares of the company’s stock, valued at $5,816,279.36. This trade represents a 6.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.67% of the stock is owned by company insiders.

PENN Entertainment Stock Up 1.8%

Shares of PENN Entertainment stock opened at $19.00 on Friday. The business’s 50 day simple moving average is $17.89 and its 200 day simple moving average is $17.34. PENN Entertainment, Inc. has a 52-week low of $13.25 and a 52-week high of $23.08. The firm has a market cap of $2.77 billion, a PE ratio of -33.93 and a beta of 1.60. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.79 and a current ratio of 0.79.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.14. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.PENN Entertainment’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.18) EPS. On average, analysts predict 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.