PENN Entertainment, Inc. (NASDAQ:PENN) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC increased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,292 shares of the company’s stock after acquiring an additional 1,573 shares during the quarter. HighTower Advisors LLC’s holdings in PENN Entertainment were worth $436,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale purchased a new position in shares of PENN Entertainment in the 3rd quarter valued at approximately $45,000. GAMMA Investing LLC grew its position in 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 buying an additional 1,275 shares during the last quarter. Quest Partners LLC acquired a new position in PENN Entertainment in the 3rd quarter valued at $56,000. International Assets Investment Management LLC raised 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 buying an additional 3,057 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of PENN Entertainment by 76.7% in 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 period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PENN shares. StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a report on Friday, November 8th. Craig Hallum reissued a “buy” rating and issued a $30.00 target price on shares of PENN Entertainment in a report on Tuesday, October 8th. Finally, Wells Fargo & Company upped their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.53.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $18.62 on Friday. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20. The stock has a market cap of $2.84 billion, a P/E ratio of -5.25 and a beta of 2.08. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a 50-day moving average of $20.00 and a two-hundred day moving average of $19.25.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.65 billion. During the same period in the prior year, the company posted $1.21 EPS. PENN Entertainment’s quarterly revenue was up 1.2% on a year-over-year basis. On average, research analysts expect that PENN Entertainment, Inc. will post -1.55 earnings per share for the current fiscal 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.