State of Wyoming Takes Position in PENN Entertainment, Inc. $PENN

State of Wyoming purchased a new position in PENN Entertainment, Inc. (NASDAQ:PENN) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,821 shares of the company’s stock, valued at approximately $46,000.

Several other institutional investors have also recently made changes to their positions in PENN. Northern Trust Corp increased its holdings in shares of PENN Entertainment by 19.4% in the fourth quarter. Northern Trust Corp now owns 1,043,383 shares of the company’s stock worth $20,680,000 after purchasing an additional 169,518 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of PENN Entertainment by 233.1% in the fourth quarter. BNP Paribas Financial Markets now owns 54,645 shares of the company’s stock worth $1,083,000 after purchasing an additional 38,238 shares during the period. Focus Partners Wealth bought a new position in shares of PENN Entertainment in the fourth quarter worth $215,000. Hudson Bay Capital Management LP increased its holdings in shares of PENN Entertainment by 528.9% in the fourth quarter. Hudson Bay Capital Management LP now owns 167,271 shares of the company’s stock worth $3,315,000 after purchasing an additional 206,271 shares during the period. Finally, LMR Partners LLP increased its holdings in shares of PENN Entertainment by 608.9% in the fourth quarter. LMR Partners LLP now owns 41,026 shares of the company’s stock worth $813,000 after purchasing an additional 35,239 shares during the period. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Down 0.1%

NASDAQ PENN opened at $20.06 on Wednesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $2.93 billion, a PE ratio of -35.82 and a beta of 1.41. PENN Entertainment, Inc. has a 1 year low of $13.25 and a 1 year high of $23.08. The business’s 50-day moving average is $18.59 and its 200 day moving average is $17.16.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.14. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned ($0.18) earnings per share. Sell-side analysts forecast that PENN Entertainment, Inc. will post -1.61 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup reiterated an “outperform” rating on shares of PENN Entertainment in a research report on Friday, August 8th. Barclays cut their target price on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research note on Monday, May 19th. Citizens Jmp raised PENN Entertainment from a “market perform” rating to an “outperform” rating and set a $24.00 target price for the company in a research note on Thursday, June 26th. Finally, Needham & Company LLC cut their target price on PENN Entertainment from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.25.

Insider Activity at PENN Entertainment

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

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.