PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. trimmed its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 37.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,375 shares of the company’s stock after selling 45,459 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in PENN Entertainment were worth $1,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Stonebridge Capital Advisors LLC acquired a new position in shares of PENN Entertainment in the 1st quarter valued at $50,000. Money Concepts Capital Corp increased its position in shares of PENN Entertainment by 85.4% in the 4th quarter. Money Concepts Capital Corp now owns 1,309 shares of the company’s stock valued at $39,000 after acquiring an additional 603 shares during the period. International Assets Investment Management LLC acquired a new position in shares of PENN Entertainment in the 3rd quarter valued at $29,000. Quarry LP increased its position in shares of PENN Entertainment by 95.1% in the 2nd quarter. Quarry LP now owns 1,383 shares of the company’s stock valued at $33,000 after acquiring an additional 674 shares during the period. Finally, Huntington National Bank increased its position in shares of PENN Entertainment by 324.8% in the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after acquiring an additional 1,072 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Trading Down 6.2 %

Shares of PENN Entertainment stock opened at $16.93 on Thursday. The firm has a market capitalization of $2.58 billion, a PE ratio of -4.65 and a beta of 2.06. PENN Entertainment, Inc. has a twelve month low of $16.46 and a twelve month high of $31.63. The firm’s 50-day moving average price is $18.76 and its 200 day moving average price is $21.75. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60.

PENN Entertainment (NASDAQ:PENN) last released its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. On average, sell-side analysts predict that PENN Entertainment, Inc. will post -0.82 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on PENN shares. Mizuho started coverage on PENN Entertainment in a research report on Tuesday, March 26th. They issued a “buy” rating and a $29.00 target price on the stock. Macquarie cut their price target on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Truist Financial cut their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. StockNews.com downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Finally, Needham & Company LLC cut their price target on PENN Entertainment from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $31.38.

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.