PENN Entertainment, Inc. $PENN Shares Sold by Raymond James Financial Inc.

Raymond James Financial Inc. lessened its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 52.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 423,689 shares of the company’s stock after selling 474,606 shares during the period. Raymond James Financial Inc. owned approximately 0.28% of PENN Entertainment worth $6,910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 736 shares during the period. Byrne Asset Management LLC boosted its position in shares of PENN Entertainment by 201.1% during the first quarter. Byrne Asset Management LLC now owns 2,710 shares of the company’s stock worth $44,000 after buying an additional 1,810 shares during the period. Signaturefd LLC grew its holdings in PENN Entertainment by 1,371.6% in the 1st quarter. Signaturefd LLC now owns 7,211 shares of the company’s stock worth $118,000 after buying an additional 6,721 shares in the last quarter. KBC Group NV increased its position in PENN Entertainment by 42.2% in the 1st quarter. KBC Group NV now owns 7,824 shares of the company’s stock valued at $128,000 after acquiring an additional 2,323 shares during the period. Finally, Blue Trust Inc. raised its stake in 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 acquiring an additional 3,174 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $19.97 on Wednesday. The company has a 50-day moving average of $18.39 and a 200-day moving average of $17.22. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -35.66 and a beta of 1.41. 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, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08.

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

Insider Buying and Selling at PENN Entertainment

In related news, Director David A. Handler bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $16.96 per share, for a total transaction of $339,200.00. Following the acquisition, the director directly owned 342,941 shares of the company’s stock, valued at $5,816,279.36. The trade was a 6.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.67% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on PENN. Stifel Nicolaus increased their price target on PENN Entertainment from $17.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, July 11th. Needham & Company LLC decreased their target price on shares of PENN Entertainment from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Citizens Jmp raised shares of PENN Entertainment from a “market perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a research note on Thursday, June 26th. Mizuho reduced their price target on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, May 12th. Finally, JMP Securities increased their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the company a “market outperform” rating in a report on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.25.

PENN Entertainment 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.