Principal Financial Group Inc. Decreases Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Principal Financial Group Inc. reduced its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 704,485 shares of the company’s stock after selling 29,355 shares during the period. Principal Financial Group Inc.’s holdings in PENN Entertainment were worth $13,287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PENN. Raymond James & Associates lifted its stake in PENN Entertainment by 81.7% in the 2nd quarter. Raymond James & Associates now owns 155,826 shares of the company’s stock valued at $3,016,000 after buying an additional 70,067 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in shares of PENN Entertainment by 425.8% in the second quarter. Maryland State Retirement & Pension System now owns 64,341 shares of the company’s stock valued at $1,245,000 after acquiring an additional 52,104 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of PENN Entertainment by 2.7% during the second quarter. Commonwealth Equity Services LLC now owns 49,872 shares of the company’s stock valued at $965,000 after acquiring an additional 1,289 shares during the last quarter. Natixis Advisors LLC increased its position in PENN Entertainment by 69.1% during the 2nd quarter. Natixis Advisors LLC now owns 242,370 shares of the company’s stock worth $4,691,000 after purchasing an additional 99,016 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in PENN Entertainment in the 2nd quarter valued at about $282,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analysts Set New Price Targets

PENN has been the subject of a number of recent research reports. StockNews.com upgraded shares of PENN Entertainment from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Wells Fargo & Company increased their price target on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Craig Hallum reaffirmed a “buy” rating and issued a $30.00 price objective on shares of PENN Entertainment in a research report on Tuesday, October 8th. Truist Financial reduced their target price on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Mizuho lowered their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, PENN Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

PENN Entertainment Stock Down 0.1 %

Shares of NASDAQ PENN opened at $18.69 on Friday. The stock has a fifty day moving average price of $19.96 and a 200 day moving average price of $19.29. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $27.20. The company has a market cap of $2.85 billion, a P/E ratio of -5.26 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last posted 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. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. Research analysts anticipate that PENN Entertainment, Inc. will post -1.55 EPS for the current fiscal year.

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.