Cetera Investment Advisers Buys 9,887 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Cetera Investment Advisers grew its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 7.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,694 shares of the company’s stock after purchasing an additional 9,887 shares during the period. Cetera Investment Advisers owned approximately 0.09% of PENN Entertainment worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC grew its position in PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after acquiring an additional 1,009 shares during the last quarter. Neo Ivy Capital Management bought a new stake in PENN Entertainment during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp bought a new stake in PENN Entertainment during the 2nd quarter worth approximately $83,000. Quarry LP grew its position in PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after acquiring an additional 1,862 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in PENN Entertainment by 18.3% during the 2nd quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock worth $183,000 after buying an additional 1,555 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on PENN shares. Truist Financial upped their price objective on PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Raymond James downgraded PENN Entertainment from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Macquarie reaffirmed an “outperform” rating and set a $26.00 price objective on shares of PENN Entertainment in a report on Friday, August 9th. Susquehanna reaffirmed a “positive” rating and set a $26.00 price objective on shares of PENN Entertainment in a report on Friday, June 21st. Finally, Craig Hallum reissued a “buy” rating and issued a $30.00 price target on shares of PENN Entertainment in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, PENN Entertainment currently has a consensus rating of “Hold” and an average target price of $23.77.

PENN Entertainment Stock Performance

PENN stock opened at $18.52 on Friday. The business’s 50-day moving average price is $18.81 and its two-hundred day moving average price is $18.05. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35. The firm has a market cap of $2.82 billion, a PE ratio of -2.49 and a beta of 2.10. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (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 firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the business posted $0.48 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts forecast that PENN Entertainment, Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling at PENN Entertainment

In other news, CEO Jay A. Snowden purchased 54,200 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $18.44 per share, with a total value of $999,448.00. Following the purchase, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at $15,730,149.80. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Anuj Dhanda bought 15,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the transaction, the director now owns 31,523 shares in the company, valued at $580,023.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jay A. Snowden bought 54,200 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the transaction, the chief executive officer now owns 853,045 shares of the company’s stock, valued at $15,730,149.80. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 79,200 shares of company stock valued at $1,450,548 in the last 90 days. 2.19% of the stock is currently owned by company insiders.

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.