MML Investors Services LLC Boosts Stock Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

MML Investors Services LLC grew its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 27.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,613 shares of the company’s stock after buying an additional 10,740 shares during the period. MML Investors Services LLC’s holdings in PENN Entertainment were worth $936,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PENN. DekaBank Deutsche Girozentrale purchased a new stake in PENN Entertainment during the third quarter valued at about $45,000. GAMMA Investing LLC lifted its stake in shares of PENN Entertainment by 88.5% in the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock valued at $51,000 after purchasing an additional 1,275 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of PENN Entertainment during the 3rd quarter worth about $56,000. International Assets Investment Management LLC increased its position in PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after purchasing an additional 3,057 shares in the last quarter. Finally, Quarry LP raised its holdings in PENN Entertainment by 76.7% in the second quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after buying an additional 1,862 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $18.17 on Friday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $27.20. The firm’s 50-day simple moving average is $19.99 and its 200-day simple moving average is $19.22. The firm has a market cap of $2.77 billion, a PE ratio of -5.12 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.04. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. PENN Entertainment’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Equities analysts forecast that PENN Entertainment, Inc. will post -1.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PENN. Macquarie boosted their price objective on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Truist Financial lowered their price target on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. StockNews.com raised PENN Entertainment from a “sell” rating to a “hold” rating in a research report on Tuesday. Mizuho decreased their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.53.

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.