PENN Entertainment, Inc. (NASDAQ:PENN) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. grew its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 28.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,401 shares of the company’s stock after acquiring an additional 12,282 shares during the quarter. Edgestream Partners L.P.’s holdings in PENN Entertainment were worth $1,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Investment Advisory LLC acquired a new stake in shares of PENN Entertainment in the 4th quarter worth $32,000. Lindbrook Capital LLC increased its stake in shares of PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after acquiring an additional 553 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of PENN Entertainment in the 4th quarter worth $40,000. Rakuten Securities Inc. acquired a new stake in shares of PENN Entertainment in the 4th quarter worth $78,000. Finally, TFO Wealth Partners LLC increased its stake in shares of PENN Entertainment by 123,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock worth $96,000 after acquiring an additional 3,691 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director David A. Handler bought 40,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were bought at an average cost of $14.94 per share, for a total transaction of $597,600.00. Following the completion of the transaction, the director now owns 283,450 shares in the company, valued at $4,234,743. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Felicia Hendrix bought 16,157 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the transaction, the chief financial officer now owns 68,596 shares in the company, valued at $1,061,180.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Handler purchased 40,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average cost of $14.94 per share, with a total value of $597,600.00. Following the completion of the acquisition, the director now owns 283,450 shares of the company’s stock, valued at $4,234,743. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 76,157 shares of company stock worth $1,154,949. 2.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Bank of America cut PENN Entertainment from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $28.00 to $17.50 in a report on Monday, May 13th. Barclays lowered their price target on PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Truist Financial increased their price target on PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Craig Hallum upgraded PENN Entertainment from a “hold” rating to a “buy” rating and increased their price target for the stock from $20.00 to $30.00 in a report on Friday, June 21st. Finally, Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment currently has a consensus rating of “Hold” and an average price target of $25.03.

PENN Entertainment Trading Down 1.4 %

Shares of PENN Entertainment stock traded down $0.26 during trading on Tuesday, reaching $18.46. The company’s stock had a trading volume of 552,500 shares, compared to its average volume of 6,130,613. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $29.38. The business has a 50 day moving average price of $17.95 and a 200-day moving average price of $18.73.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. Equities analysts predict that PENN Entertainment, Inc. will post -1.35 EPS for the current fiscal year.

PENN Entertainment Profile

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.