Graypoint LLC Trims Stock Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Graypoint LLC lowered its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 13.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 17,732 shares of the company’s stock after selling 2,650 shares during the quarter. Graypoint LLC’s holdings in PENN Entertainment were worth $351,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. DME Capital Management LP lifted its holdings in shares of PENN Entertainment by 11.9% during the second 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 period. Earnest Partners LLC lifted its stake in PENN Entertainment by 4.6% during the 2nd quarter. Earnest Partners LLC now owns 4,117,946 shares of the company’s stock valued at $79,703,000 after acquiring an additional 179,813 shares during the period. Armistice Capital LLC boosted its holdings in shares of PENN Entertainment by 91.9% in the 2nd quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock valued at $51,156,000 after acquiring an additional 1,266,023 shares during the last quarter. Sei Investments Co. increased its stake in shares of PENN Entertainment by 3.7% in the second quarter. Sei Investments Co. now owns 2,461,074 shares of the company’s stock worth $47,634,000 after acquiring an additional 88,797 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of PENN Entertainment by 4,624.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock valued at $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.

PENN Entertainment Stock Up 4.9 %

PENN Entertainment stock opened at $19.19 on Friday. The firm has a market capitalization of $2.93 billion, a P/E ratio of -5.41 and a beta of 2.08. The stock’s fifty day simple moving average is $19.87 and its 200-day simple moving average is $19.32. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $24.57. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company earned $1.21 EPS. PENN Entertainment’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts expect that PENN Entertainment, Inc. will post -1.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PENN has been the subject of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Friday, October 4th. Barclays lowered their price target 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. Susquehanna dropped their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company raised their target price on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.44.

About PENN Entertainment

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.