Janus Henderson Group PLC grew its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 244.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 249,106 shares of the company's stock after purchasing an additional 176,844 shares during the period. Janus Henderson Group PLC owned about 0.16% of PENN Entertainment worth $4,697,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of PENN. HighTower Advisors LLC boosted its stake in PENN Entertainment by 7.2% in the 3rd quarter. HighTower Advisors LLC now owns 23,292 shares of the company's stock worth $436,000 after purchasing an additional 1,573 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PENN Entertainment in the third quarter worth $216,000. Point72 Hong Kong Ltd grew its holdings in shares of PENN Entertainment by 4,965.1% during the third quarter. Point72 Hong Kong Ltd now owns 52,728 shares of the company's stock valued at $994,000 after buying an additional 51,687 shares in the last quarter. Verition Fund Management LLC raised its position in PENN Entertainment by 367.2% during the third quarter. Verition Fund Management LLC now owns 452,988 shares of the company's stock valued at $8,543,000 after buying an additional 356,029 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new position in PENN Entertainment during the third quarter valued at $219,000. Institutional investors and hedge funds own 91.69% of the company's stock.
Wall Street Analysts Forecast Growth
PENN has been the subject of a number of research reports. Truist Financial decreased their price objective on PENN Entertainment from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Craig Hallum reiterated a "buy" rating and issued a $30.00 price objective on shares of PENN Entertainment in a research note on Tuesday, October 8th. Morgan Stanley decreased their target price on shares of PENN Entertainment from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 22nd. Finally, Susquehanna lowered their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a "positive" rating on the stock in a report on Monday, November 4th. One research 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.com, PENN Entertainment has an average rating of "Hold" and an average target price of $23.29.
Check Out Our Latest Stock Report on PENN
PENN Entertainment Stock Performance
Shares of NASDAQ:PENN traded up $0.52 during trading on Wednesday, reaching $19.43. The stock had a trading volume of 3,832,746 shares, compared to its average volume of 4,884,431. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a fifty day simple moving average of $19.90 and a two-hundred day simple moving average of $19.09. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -5.47 and a beta of 2.08. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $27.20.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the firm posted $1.21 EPS. The business's quarterly revenue was up 1.2% on a year-over-year basis. As a group, analysts anticipate that PENN Entertainment, Inc. will post -1.53 earnings per share for the current fiscal year.
About PENN Entertainment
(
Free Report)
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.
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