PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Graypoint LLC

Graypoint LLC lowered its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 30.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,715 shares of the company’s stock after selling 8,028 shares during the period. Graypoint LLC’s holdings in PENN Entertainment were worth $362,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of PENN Entertainment during the fourth quarter worth $42,758,000. ING Groep NV acquired a new position in shares of PENN Entertainment during the fourth quarter worth about $32,556,000. Invenomic Capital Management LP raised its holdings in PENN Entertainment by 71.9% in the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock valued at $34,313,000 after acquiring an additional 787,968 shares in the last quarter. Sei Investments Co. lifted its stake in PENN Entertainment by 52.8% in the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after acquiring an additional 725,221 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in PENN Entertainment by 284.6% during the 1st quarter. National Bank of Canada FI now owns 968,514 shares of the company’s stock worth $17,637,000 after acquiring an additional 716,686 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PENN shares. Truist Financial boosted their target price on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Bank of America downgraded PENN Entertainment from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $28.00 to $17.50 in a report on Monday, May 13th. Craig Hallum upgraded PENN Entertainment from a “hold” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $30.00 in a research note on Friday, June 21st. Susquehanna reiterated a “positive” rating and issued a $26.00 price target on shares of PENN Entertainment in a research note on Friday, June 21st. Finally, Barclays boosted their price objective on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.83.

PENN Entertainment Trading Up 0.4 %

NASDAQ PENN opened at $18.62 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.35. The stock has a market capitalization of $2.84 billion, a P/E ratio of -2.50 and a beta of 2.11. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $27.20. The firm has a 50-day moving average price of $19.06 and a 200 day moving average price of $17.87.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $0.48 EPS. The company’s quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts expect that PENN Entertainment, Inc. will post -1.32 EPS for the current year.

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.