Toronto Dominion Bank lessened its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 58.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,843 shares of the company’s stock after selling 46,757 shares during the quarter. Toronto Dominion Bank’s holdings in PENN Entertainment were worth $904,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. SJS Investment Consulting Inc. purchased a new stake in shares of PENN Entertainment during the third quarter worth approximately $27,000. Archer Investment Corp raised its stake in shares of PENN Entertainment by 1,694.9% during the second quarter. Archer Investment Corp now owns 1,059 shares of the company’s stock worth $32,000 after purchasing an additional 1,000 shares during the last quarter. Emerald Advisers LLC purchased a new stake in shares of PENN Entertainment during the third quarter worth approximately $33,000. Wipfli Financial Advisors LLC purchased a new stake in shares of PENN Entertainment during the third quarter worth approximately $39,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in shares of PENN Entertainment during the first quarter worth approximately $50,000. Hedge funds and other institutional investors own 84.40% of the company’s stock.
Insiders Place Their Bets
In other PENN Entertainment news, CEO Jay A. Snowden sold 163,475 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $30.12, for a total value of $4,923,867.00. Following the sale, the chief executive officer now directly owns 604,527 shares of the company’s stock, valued at approximately $18,208,353.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other PENN Entertainment news, Director Saul Reibstein sold 39,457 shares of the company’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $33.39, for a total transaction of $1,317,469.23. Following the completion of the sale, the director now directly owns 37,055 shares in the company, valued at $1,237,266.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay A. Snowden sold 163,475 shares of PENN Entertainment stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $30.12, for a total value of $4,923,867.00. Following the completion of the transaction, the chief executive officer now directly owns 604,527 shares in the company, valued at $18,208,353.24. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
PENN Entertainment Stock Up 1.2 %
PENN Entertainment (NASDAQ:PENN – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.20). The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. PENN Entertainment had a net margin of 3.47% and a return on equity of 5.91%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 EPS. As a group, equities research analysts anticipate that PENN Entertainment, Inc. will post 1.46 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
PENN has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on PENN Entertainment from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 25th. MKM Partners increased their price objective on PENN Entertainment from $33.00 to $35.00 in a research report on Friday, February 3rd. JMP Securities reiterated a “market outperform” rating and issued a $45.00 price objective on shares of PENN Entertainment in a research report on Friday, February 3rd. CBRE Group cut their price objective on PENN Entertainment from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, November 4th. Finally, Jefferies Financial Group cut PENN Entertainment from a “buy” rating to a “hold” rating and cut their price objective for the stock from $50.00 to $34.00 in a research report on Monday, January 9th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.40.
About PENN Entertainment
PENN Entertainment, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.
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