HighTower Advisors LLC Purchases 953 Shares of PENN Entertainment, Inc. $PENN

HighTower Advisors LLC grew its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 5.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,327 shares of the company’s stock after acquiring an additional 953 shares during the quarter. HighTower Advisors LLC’s holdings in PENN Entertainment were worth $315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PENN. Price T Rowe Associates Inc. MD increased its stake in PENN Entertainment by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 103,589 shares of the company’s stock worth $2,054,000 after acquiring an additional 7,155 shares during the last quarter. Northern Trust Corp increased its position in shares of PENN Entertainment by 19.4% during the 4th quarter. Northern Trust Corp now owns 1,043,383 shares of the company’s stock valued at $20,680,000 after purchasing an additional 169,518 shares during the last quarter. Algert Global LLC bought a new position in shares of PENN Entertainment during the 4th quarter valued at approximately $850,000. BNP Paribas Financial Markets increased its position in shares of PENN Entertainment by 233.1% during the 4th quarter. BNP Paribas Financial Markets now owns 54,645 shares of the company’s stock valued at $1,083,000 after purchasing an additional 38,238 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its position in shares of PENN Entertainment by 24.9% during the 4th quarter. Driehaus Capital Management LLC now owns 292,617 shares of the company’s stock valued at $5,800,000 after purchasing an additional 58,328 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

Shares of PENN stock opened at $19.97 on Wednesday. PENN Entertainment, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -35.66 and a beta of 1.41. The stock has a fifty day simple moving average of $18.39 and a two-hundred day simple moving average of $17.22. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.14. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the business earned ($0.18) EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts predict that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Mizuho cut their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, May 12th. Citizens Jmp raised PENN Entertainment from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a research report on Thursday, June 26th. Susquehanna reissued a “positive” rating and set a $25.00 target price (up previously from $24.00) on shares of PENN Entertainment in a research report on Tuesday, June 10th. Citigroup reissued an “outperform” rating on shares of PENN Entertainment in a research report on Friday, August 8th. Finally, Needham & Company LLC cut their target price on PENN Entertainment from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.25.

Insider Buying and Selling at PENN Entertainment

In other news, Director David A. Handler bought 20,000 shares of the stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $16.96 per share, for a total transaction of $339,200.00. Following the acquisition, the director owned 342,941 shares of the company’s stock, valued at $5,816,279.36. This represents a 6.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.67% of the company’s stock.

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.