Principal Financial Group Inc. Sells 21,299 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Principal Financial Group Inc. trimmed its position in PENN Entertainment, Inc. (NASDAQ:PENNFree Report) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 557,331 shares of the company’s stock after selling 21,299 shares during the quarter. Principal Financial Group Inc.’s holdings in PENN Entertainment were worth $12,791,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in PENN Entertainment by 2.0% in the 2nd quarter. Victory Capital Management Inc. now owns 26,362 shares of the company’s stock valued at $633,000 after acquiring an additional 524 shares during the period. Creative Planning raised its holdings in PENN Entertainment by 11.4% in the 2nd quarter. Creative Planning now owns 19,089 shares of the company’s stock valued at $459,000 after acquiring an additional 1,959 shares during the period. Source Financial Advisors LLC raised its holdings in PENN Entertainment by 1,061.1% in the 3rd quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock valued at $7,404,000 after acquiring an additional 294,845 shares during the period. HG Vora Capital Management LLC raised its holdings in PENN Entertainment by 3.6% in the 2nd quarter. HG Vora Capital Management LLC now owns 14,500,000 shares of the company’s stock valued at $348,435,000 after acquiring an additional 500,000 shares during the period. Finally, Peregrine Capital Management LLC bought a new position in PENN Entertainment in the 3rd quarter valued at about $9,489,000. 82.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PENN has been the topic of several research analyst reports. Capital One Financial assumed coverage on shares of PENN Entertainment in a report on Thursday, October 12th. They issued an “equal weight” rating and a $25.00 price target on the stock. Bank of America raised shares of PENN Entertainment from a “neutral” rating to a “buy” rating and raised their target price for the stock from $27.00 to $30.00 in a report on Monday, November 20th. TheStreet cut shares of PENN Entertainment from a “c-” rating to a “d” rating in a report on Friday, November 10th. StockNews.com assumed coverage on shares of PENN Entertainment in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 target price on shares of PENN Entertainment in a report on Monday, December 11th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PENN Entertainment has an average rating of “Moderate Buy” and an average price target of $33.31.

Read Our Latest Stock Analysis on PENN Entertainment

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $22.55 on Thursday. PENN Entertainment, Inc. has a fifty-two week low of $18.35 and a fifty-two week high of $36.26. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.42 and a quick ratio of 1.41. The firm has a market capitalization of $3.42 billion, a P/E ratio of -19.78, a P/E/G ratio of 33.87 and a beta of 2.18. The company’s 50 day moving average price is $24.65 and its two-hundred day moving average price is $23.64.

PENN Entertainment (NASDAQ:PENNGet Free Report) last issued its earnings results on Thursday, November 2nd. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.88. PENN Entertainment had a negative net margin of 1.70% and a positive return on equity of 8.67%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. On average, equities analysts forecast that PENN Entertainment, Inc. will post 1.46 earnings per share for the current fiscal year.

Insider Buying and Selling at PENN Entertainment

In related news, Director Jane Scaccetti bought 4,400 shares of the business’s stock in a transaction on Monday, November 6th. The shares were purchased at an average price of $22.83 per share, for a total transaction of $100,452.00. Following the completion of the transaction, the director now directly owns 63,414 shares of the company’s stock, valued at approximately $1,447,741.62. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other PENN Entertainment news, Director Jane Scaccetti purchased 4,400 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were bought at an average price of $22.83 per share, for a total transaction of $100,452.00. Following the completion of the acquisition, the director now owns 63,414 shares in the company, valued at $1,447,741.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher Byron Rogers sold 5,017 shares of PENN Entertainment stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $25.23, for a total transaction of $126,578.91. Following the transaction, the executive vice president now owns 30,214 shares in the company, valued at approximately $762,299.22. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

About PENN Entertainment

(Free Report)

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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Institutional Ownership by Quarter for PENN Entertainment (NASDAQ:PENN)

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