Eagle Asset Management Inc. Decreases Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Eagle Asset Management Inc. decreased its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 16.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 456,688 shares of the company's stock after selling 88,313 shares during the quarter. Eagle Asset Management Inc. owned about 0.30% of PENN Entertainment worth $9,358,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of PENN Entertainment by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 14,789,817 shares of the company's stock worth $269,323,000 after buying an additional 59,897 shares during the period. DME Capital Management LP raised its stake in PENN Entertainment by 11.9% in the second quarter. DME Capital Management LP now owns 5,095,340 shares of the company's stock worth $98,620,000 after buying an additional 540,630 shares in the last quarter. Earnest Partners LLC lifted its holdings in PENN Entertainment by 4.6% during the second quarter. Earnest Partners LLC now owns 4,117,946 shares of the company's stock worth $79,703,000 after buying an additional 179,813 shares during the period. Armistice Capital LLC increased its holdings in shares of PENN Entertainment by 91.9% in the 2nd quarter. Armistice Capital LLC now owns 2,643,060 shares of the company's stock valued at $51,156,000 after acquiring an additional 1,266,023 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of PENN Entertainment by 3.7% in the 2nd quarter. Sei Investments Co. now owns 2,461,074 shares of the company's stock valued at $47,634,000 after acquiring an additional 88,797 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PENN. Wells Fargo & Company lifted their target price on PENN Entertainment from $18.00 to $20.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Macquarie increased their price objective on PENN Entertainment from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Friday, November 8th. JMP Securities reissued a "market perform" rating on shares of PENN Entertainment in a report on Friday, October 4th. Morgan Stanley dropped their price objective on shares of PENN Entertainment from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 22nd. Finally, Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, PENN Entertainment has an average rating of "Hold" and a consensus price target of $23.29.

PENN Entertainment Price Performance

PENN Entertainment stock traded up $0.30 during trading on Friday, reaching $20.52. The company had a trading volume of 1,920,649 shares, compared to its average volume of 2,741,248. The firm has a market capitalization of $3.13 billion, a PE ratio of -5.78 and a beta of 2.09. The firm's 50-day simple moving average is $19.47 and its 200 day simple moving average is $18.64. 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.

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

Insider Buying and Selling at PENN Entertainment

In related news, Director Anuj Dhanda bought 15,000 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the acquisition, the director now owns 31,523 shares of the company's stock, valued at approximately $580,023.20. This trade represents a 90.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jay A. Snowden purchased 54,200 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the transaction, the chief executive officer now owns 853,045 shares of the company's stock, valued at approximately $15,730,149.80. This trade represents a 6.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 79,200 shares of company stock worth $1,450,548 in the last three months. 2.19% of the stock is owned by corporate insiders.

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.