Creative Planning boosted its position in PENN Entertainment, Inc. (NASDAQ:PENN – Free Report) by 11.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 19,089 shares of the company’s stock after buying an additional 1,959 shares during the quarter. Creative Planning’s holdings in PENN Entertainment were worth $459,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in PENN Entertainment by 2.2% in the first quarter. Geode Capital Management LLC now owns 2,321,981 shares of the company’s stock valued at $68,870,000 after acquiring an additional 50,999 shares during the last quarter. Norges Bank bought a new position in PENN Entertainment during the fourth quarter worth about $59,504,000. Charles Schwab Investment Management Inc. boosted its holdings in PENN Entertainment by 5.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,882,461 shares of the company’s stock worth $79,854,000 after buying an additional 97,988 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in PENN Entertainment by 79.3% during the first quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company’s stock worth $75,891,000 after buying an additional 791,500 shares during the last quarter. Finally, Earnest Partners LLC boosted its holdings in PENN Entertainment by 42.8% during the first quarter. Earnest Partners LLC now owns 1,662,997 shares of the company’s stock worth $70,544,000 after buying an additional 498,084 shares during the last quarter. Institutional investors own 82.34% of the company’s stock.
Wall Street Analysts Forecast Growth
PENN has been the topic of a number of recent analyst reports. Capital One Financial initiated coverage on PENN Entertainment in a report on Thursday, October 12th. They set an “equal weight” rating and a $25.00 target price on the stock. Truist Financial reduced their target price on PENN Entertainment from $30.00 to $25.00 and set a “hold” rating on the stock in a report on Wednesday. Canaccord Genuity Group reduced their target price on PENN Entertainment from $44.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. Morgan Stanley dropped their price target on PENN Entertainment from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Friday, October 13th. Finally, Craig Hallum lowered PENN Entertainment from a “buy” rating to a “hold” rating and dropped their price target for the stock from $56.00 to $30.00 in a research report on Thursday, August 10th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.68.
Insiders Place Their Bets
In related news, CFO Felicia Hendrix purchased 11,162 shares of the stock in a transaction on Wednesday, September 6th. The shares were purchased at an average price of $22.41 per share, with a total value of $250,140.42. Following the transaction, the chief financial officer now directly owns 27,975 shares of the company’s stock, valued at $626,919.75. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.
PENN Entertainment Stock Down 0.1 %
NASDAQ:PENN opened at $20.15 on Friday. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 4.60, a price-to-earnings-growth ratio of 3.73 and a beta of 2.16. PENN Entertainment, Inc. has a twelve month low of $20.00 and a twelve month high of $39.35. The stock’s 50 day moving average price is $22.47 and its two-hundred day moving average price is $24.98. The company has a quick ratio of 1.39, a current ratio of 1.41 and a debt-to-equity ratio of 1.22.
PENN Entertainment (NASDAQ:PENN – Get Free Report) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.09. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.66 billion. PENN Entertainment had a return on equity of 7.10% and a net margin of 11.24%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. Equities research analysts expect that PENN Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.
PENN Entertainment Profile
PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under a portfolio of brands, including Hollywood Casino, L'Auberge, Barstool Sportsbook, and theScore Bet Sportbook and Casino.
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