BNP Paribas Financial Markets lowered its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 87.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,407 shares of the company's stock after selling 116,414 shares during the quarter. BNP Paribas Financial Markets' holdings in PENN Entertainment were worth $309,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. DME Capital Management LP lifted its stake in shares of PENN Entertainment by 11.9% during the 2nd quarter. DME Capital Management LP now owns 5,095,340 shares of the company's stock worth $98,620,000 after purchasing an additional 540,630 shares during the last quarter. Earnest Partners LLC lifted its position in shares of PENN Entertainment by 4.6% during the second quarter. Earnest Partners LLC now owns 4,117,946 shares of the company's stock valued at $79,703,000 after buying an additional 179,813 shares during the last quarter. Armistice Capital LLC lifted its position in shares of PENN Entertainment by 91.9% during the second quarter. Armistice Capital LLC now owns 2,643,060 shares of the company's stock valued at $51,156,000 after buying an additional 1,266,023 shares during the last quarter. Sei Investments Co. boosted 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 buying an additional 88,797 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of PENN Entertainment by 4,624.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company's stock worth $28,183,000 after buying an additional 1,425,274 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on PENN shares. Macquarie increased 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. JPMorgan Chase & Co. upgraded PENN Entertainment from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $19.00 to $27.00 in a report on Friday. Barclays dropped their target price on PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, October 17th. Needham & Company LLC reiterated a "buy" rating and issued a $26.00 price target on shares of PENN Entertainment in a research note on Friday, November 8th. Finally, Wells Fargo & Company raised their price target on PENN Entertainment from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $23.53.
Check Out Our Latest Analysis on PENN
PENN Entertainment Stock Performance
Shares of PENN traded down $0.96 during trading hours on Monday, hitting $19.83. The stock had a trading volume of 4,016,592 shares, compared to its average volume of 4,884,250. The firm has a 50-day moving average price of $19.97 and a 200 day moving average price of $19.18. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of -5.86 and a beta of 2.08. 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 (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The company's revenue was up 1.2% compared to the same quarter last year. As a group, research analysts anticipate that PENN Entertainment, Inc. will post -1.55 EPS for the current year.
PENN Entertainment Company Profile
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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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