Pathstone Holdings LLC Purchases 36,347 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Pathstone Holdings LLC grew its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 10.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 394,244 shares of the company’s stock after purchasing an additional 36,347 shares during the quarter. Pathstone Holdings LLC’s holdings in PENN Entertainment were worth $7,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in PENN Entertainment by 0.4% during the first quarter. Vanguard Group Inc. now owns 14,789,817 shares of the company’s stock worth $269,323,000 after acquiring an additional 59,897 shares during the period. DME Capital Management LP lifted its holdings in shares of PENN Entertainment by 11.9% in the 2nd quarter. DME Capital Management LP now owns 5,095,340 shares of the company’s stock worth $98,620,000 after acquiring an additional 540,630 shares during the last quarter. Earnest Partners LLC lifted its stake in PENN Entertainment by 4.6% during the 2nd quarter. Earnest Partners LLC now owns 4,117,946 shares of the company’s stock worth $79,703,000 after acquiring an additional 179,813 shares in the last quarter. Armistice Capital LLC lifted its holdings in PENN Entertainment by 91.9% during the 2nd quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock worth $51,156,000 after buying an additional 1,266,023 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in PENN Entertainment by 3.7% during the 2nd quarter. Sei Investments Co. now owns 2,461,074 shares of the company’s stock worth $47,634,000 after purchasing an additional 88,797 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PENN. Morgan Stanley lowered their price objective on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 9th. Truist Financial cut their price objective on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Stifel Nicolaus increased their target price on PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Mizuho lowered their price target on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.29.

PENN Entertainment Trading Up 1.3 %

Shares of NASDAQ:PENN opened at $20.29 on Friday. The company has a 50 day moving average of $19.42 and a 200-day moving average of $18.58. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The firm has a market cap of $3.10 billion, a P/E ratio of -5.64 and a beta of 2.09. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $27.20.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business earned $1.21 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts anticipate that PENN Entertainment, Inc. will post -1.53 earnings per share for the current fiscal year.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the transaction, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. This represents a 6.78 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anuj Dhanda acquired 15,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $18.40 per share, with a total value of $276,000.00. Following the transaction, the director now directly owns 31,523 shares in the company, valued at approximately $580,023.20. The trade was a 90.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 79,200 shares of company stock valued at $1,450,548 in the last quarter. Insiders own 2.19% of the company’s stock.

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.