PENN Entertainment, Inc. (NASDAQ:PENN) Holdings Lifted by Covestor Ltd

Covestor Ltd increased its position in shares of PENN Entertainment, Inc. (NASDAQ:PENNFree Report) by 185.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,599 shares of the company’s stock after buying an additional 1,688 shares during the quarter. Covestor Ltd’s holdings in PENN Entertainment were worth $60,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PENN. Mariner LLC grew its holdings in shares of PENN Entertainment by 22.1% during the 3rd quarter. Mariner LLC now owns 10,989 shares of the company’s stock worth $252,000 after purchasing an additional 1,988 shares in the last quarter. LPL Financial LLC increased its holdings in PENN Entertainment by 6.6% in the 3rd quarter. LPL Financial LLC now owns 146,056 shares of the company’s stock valued at $3,352,000 after buying an additional 9,083 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of PENN Entertainment by 112.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 250,172 shares of the company’s stock valued at $5,741,000 after buying an additional 132,392 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of PENN Entertainment by 25.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 12,420 shares of the company’s stock valued at $285,000 after buying an additional 2,543 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of PENN Entertainment during the 3rd quarter worth about $55,000. Institutional investors and hedge funds own 82.34% of the company’s stock.

PENN Entertainment Stock Down 2.7 %

PENN opened at $16.60 on Tuesday. The firm has a 50 day simple moving average of $22.83 and a 200 day simple moving average of $22.92. PENN Entertainment, Inc. has a fifty-two week low of $16.46 and a fifty-two week high of $31.63. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11.

Insider Buying and Selling at PENN Entertainment

In related news, CEO Jay A. Snowden sold 172,930 shares of PENN Entertainment stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $25.25, for a total transaction of $4,366,482.50. Following the completion of the sale, the chief executive officer now directly owns 689,072 shares of the company’s stock, valued at $17,399,068. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Christopher Byron Rogers sold 5,017 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $25.23, for a total value of $126,578.91. Following the completion of the sale, the executive vice president now owns 30,214 shares in the company, valued at approximately $762,299.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jay A. Snowden sold 172,930 shares of the stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $25.25, for a total value of $4,366,482.50. Following the completion of the sale, the chief executive officer now owns 689,072 shares of the company’s stock, valued at $17,399,068. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PENN. Truist Financial lowered their target price on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Stifel Nicolaus dropped their target price on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a report on Friday, February 16th. Bank of America raised PENN Entertainment from a “neutral” rating to a “buy” rating and boosted their price target for the company from $27.00 to $30.00 in a research note on Monday, November 20th. Needham & Company LLC dropped their price objective on PENN Entertainment from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Finally, Morgan Stanley cut their price objective on PENN Entertainment from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, PENN Entertainment currently has an average rating of “Moderate Buy” and an average target price of $31.53.

View Our Latest Report on PENN

About PENN Entertainment

(Free Report)

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet Sportbook and Casino.

Further Reading

Institutional Ownership by Quarter for PENN Entertainment (NASDAQ:PENN)

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