Edgestream Partners L.P. Sells 25,214 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Edgestream Partners L.P. reduced its position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 20.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,270 shares of the company's stock after selling 25,214 shares during the quarter. Edgestream Partners L.P. owned about 0.07% of PENN Entertainment worth $1,872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock worth $28,000 after buying an additional 1,009 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in PENN Entertainment during the 3rd quarter worth approximately $45,000. Quest Partners LLC acquired a new stake in PENN Entertainment during the 3rd quarter worth approximately $56,000. International Assets Investment Management LLC boosted 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 period. Finally, J.Safra Asset Management Corp acquired a new stake in PENN Entertainment during the 2nd quarter worth approximately $83,000. 91.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted 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 report on Thursday, October 17th. Susquehanna dropped their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a "positive" rating on the stock in a research report on Monday, November 4th. Mizuho dropped their target price on shares of PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a "hold" rating in a research report on Friday, August 9th. Finally, Macquarie boosted their target price on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, PENN Entertainment presently has a consensus rating of "Hold" and an average price target of $23.29.

Insiders Place Their Bets

In other news, Director Anuj Dhanda bought 15,000 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $18.40 per share, with a total value of $276,000.00. Following the completion of the purchase, the director now directly owns 31,523 shares in the company, valued at $580,023.20. This represents a 90.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director David A. Handler bought 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the purchase, the director now owns 293,450 shares of the company's stock, valued at $5,138,309.50. This trade represents a 3.53 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.19% of the company's stock.

PENN Entertainment Stock Performance

NASDAQ:PENN traded up $0.40 on Wednesday, reaching $21.91. 1,906,547 shares of the company's stock were exchanged, compared to its average volume of 4,918,728. The stock has a fifty day simple moving average of $19.71 and a 200-day simple moving average of $18.93. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $27.20. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of -6.06 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.04. The business had revenue of $1.64 billion for 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 period last year, the firm posted $1.21 earnings per share. As a group, sell-side analysts predict that PENN Entertainment, Inc. will post -1.53 earnings per share for the current year.

PENN Entertainment Company 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.