National Bank of Canada FI Grows Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

National Bank of Canada FI grew its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 5,950.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 251,828 shares of the company’s stock after buying an additional 247,666 shares during the period. National Bank of Canada FI owned 0.17% of PENN Entertainment worth $6,535,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Huntington National Bank lifted its stake in shares of PENN Entertainment by 324.8% in the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of PENN Entertainment during the 4th quarter valued at $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 in the last quarter. Signaturefd LLC lifted its position in PENN Entertainment by 60.8% during the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after acquiring an additional 727 shares during the period. Finally, Tyler Stone Wealth Management increased its stake in shares of PENN Entertainment by 34.0% during the third quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock valued at $45,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

PENN has been the subject of a number of recent research reports. Mizuho lifted their price objective on PENN Entertainment from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Truist Financial raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Tuesday, April 23rd. Barclays reduced their price target on shares of PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and issued a $32.00 price target on shares of PENN Entertainment in a research note on Thursday, May 2nd. Finally, Craig Hallum reduced their price objective on PENN Entertainment from $25.00 to $20.00 and set a “hold” rating for the company in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, PENN Entertainment presently has an average rating of “Hold” and an average price target of $25.92.

Insider Transactions at PENN Entertainment

In related news, CFO Felicia Hendrix purchased 16,157 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $15.47 per share, for a total transaction of $249,948.79. Following the purchase, the chief financial officer now directly owns 68,596 shares in the company, valued at $1,061,180.12. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other PENN Entertainment news, Director David A. Handler acquired 20,000 shares of the stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $15.37 per share, for a total transaction of $307,400.00. Following the completion of the transaction, the director now directly owns 243,450 shares of the company’s stock, valued at $3,741,826.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Felicia Hendrix bought 16,157 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the transaction, the chief financial officer now directly owns 68,596 shares in the company, valued at approximately $1,061,180.12. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

PENN Entertainment Trading Up 3.7 %

PENN Entertainment stock opened at $16.24 on Friday. The company has a current ratio of 1.04, a quick 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 firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -2.18 and a beta of 2.06. The firm has a 50 day moving average of $17.29 and a 200 day moving average of $21.03.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. As a group, research analysts predict that PENN Entertainment, Inc. will post -0.9 earnings per share for the current year.

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.