Foundry Partners LLC Acquires New Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Foundry Partners LLC bought a new position in PENN Entertainment, Inc. (NASDAQ:PENN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 28,325 shares of the company’s stock, valued at approximately $548,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PENN. International Assets Investment Management LLC boosted its stake in shares of PENN Entertainment by 1,554.9% in the 4th quarter. International Assets Investment Management LLC now owns 21,779 shares of the company’s stock valued at $567,000 after purchasing an additional 20,463 shares in the last quarter. Victory Capital Management Inc. boosted its position in PENN Entertainment by 18.3% during the fourth quarter. Victory Capital Management Inc. now owns 31,419 shares of the company’s stock valued at $818,000 after buying an additional 4,870 shares during the period. Natixis Advisors L.P. grew its stake in shares of PENN Entertainment by 59.2% during the fourth quarter. Natixis Advisors L.P. now owns 180,766 shares of the company’s stock valued at $4,703,000 after buying an additional 67,218 shares during the last quarter. M&T Bank Corp purchased a new position in shares of PENN Entertainment in the fourth quarter worth about $679,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of PENN Entertainment by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,017,781 shares of the company’s stock valued at $26,483,000 after acquiring an additional 43,605 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PENN. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a research note on Thursday, August 8th. Truist Financial upped their price target on shares of PENN Entertainment from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, June 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Raymond James cut shares of PENN Entertainment from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Finally, Stifel Nicolaus increased their target price on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.77.

Insider Buying and Selling at PENN Entertainment

In related news, CEO Jay A. Snowden purchased 54,200 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $18.44 per share, with a total value of $999,448.00. Following the transaction, the chief executive officer now directly owns 853,045 shares in the company, valued at approximately $15,730,149.80. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.19% of the company’s stock.

PENN Entertainment Price Performance

Shares of PENN stock opened at $18.07 on Friday. The business’s fifty day moving average is $19.03 and its 200 day moving average is $17.87. 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 cap of $2.75 billion, a price-to-earnings ratio of -2.43 and a beta of 2.10. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $27.20.

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

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.