PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,196 shares of the company’s stock after selling 831 shares during the period. Exchange Traded Concepts LLC owned 0.06% of PENN Entertainment worth $1,768,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Driehaus Capital Management LLC acquired a new stake in PENN Entertainment in the second quarter worth approximately $4,535,000. Janus Henderson Group PLC lifted its holdings in shares of PENN Entertainment by 244.7% in the third quarter. Janus Henderson Group PLC now owns 249,106 shares of the company’s stock valued at $4,697,000 after buying an additional 176,844 shares during the period. Quantbot Technologies LP boosted its stake in PENN Entertainment by 84.7% during the third quarter. Quantbot Technologies LP now owns 208,094 shares of the company’s stock valued at $3,925,000 after buying an additional 95,423 shares in the last quarter. Verition Fund Management LLC grew its holdings in PENN Entertainment by 367.2% during the third quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock worth $8,543,000 after acquiring an additional 356,029 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in PENN Entertainment by 8.4% in the fourth quarter. Harbor Capital Advisors Inc. now owns 597,942 shares of the company’s stock worth $11,851,000 after acquiring an additional 46,209 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Performance

Shares of NASDAQ PENN opened at $20.20 on Monday. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $24.14. The company has a market cap of $3.08 billion, a P/E ratio of -5.69, a P/E/G ratio of 1.48 and a beta of 2.08. The business’s 50 day moving average is $19.86 and its two-hundred day moving average is $19.39. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

PENN Entertainment (NASDAQ:PENN) last released its earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.04. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 EPS. On average, equities analysts expect that PENN Entertainment, Inc. will post -1.57 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PENN shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, November 8th. Truist Financial decreased their price target on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Bank of America started coverage on PENN Entertainment in a research report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. upgraded PENN Entertainment from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $27.00 in a report on Friday, December 13th. Finally, Jefferies Financial Group increased their price target on PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.44.

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.