PNC Financial Services Group Inc. Has $113,000 Stock Position in PENN Entertainment, Inc. $PENN

PNC Financial Services Group Inc. reduced its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 14.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,912 shares of the company’s stock after selling 1,146 shares during the period. PNC Financial Services Group Inc.’s holdings in PENN Entertainment were worth $113,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. DME Capital Management LP raised its holdings in PENN Entertainment by 2.3% during the 4th quarter. DME Capital Management LP now owns 5,748,440 shares of the company’s stock worth $113,934,000 after buying an additional 127,670 shares during the period. Kettle Hill Capital Management LLC raised its holdings in PENN Entertainment by 43.1% during the 4th quarter. Kettle Hill Capital Management LLC now owns 1,801,787 shares of the company’s stock worth $35,711,000 after buying an additional 542,585 shares during the period. Long Focus Capital Management LLC raised its holdings in PENN Entertainment by 3.0% during the 4th quarter. Long Focus Capital Management LLC now owns 1,545,000 shares of the company’s stock worth $30,622,000 after buying an additional 45,000 shares during the period. Man Group plc raised its holdings in PENN Entertainment by 25.0% during the 4th quarter. Man Group plc now owns 1,398,998 shares of the company’s stock worth $27,728,000 after buying an additional 279,726 shares during the period. Finally, Northern Trust Corp raised its holdings in PENN Entertainment by 19.4% during the 4th quarter. Northern Trust Corp now owns 1,043,383 shares of the company’s stock worth $20,680,000 after buying an additional 169,518 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler purchased 20,000 shares of the business’s stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $16.96 per share, with a total value of $339,200.00. Following the acquisition, the director directly owned 342,941 shares of the company’s stock, valued at $5,816,279.36. This trade represents a 6.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jay A. Snowden purchased 34,000 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were acquired at an average cost of $14.70 per share, with a total value of $499,800.00. Following the acquisition, the chief executive officer directly owned 1,082,625 shares in the company, valued at approximately $15,914,587.50. The trade was a 3.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 64,000 shares of company stock valued at $987,300 in the last ninety days. Insiders own 2.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on PENN shares. Canaccord Genuity Group dropped their target price on shares of PENN Entertainment from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Susquehanna reaffirmed a “positive” rating and set a $25.00 price target (up from $24.00) on shares of PENN Entertainment in a research note on Tuesday, June 10th. JMP Securities raised their price target on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday, August 8th. Truist Financial decreased their price target on shares of PENN Entertainment from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday, April 23rd. Finally, Needham & Company LLC decreased their price target on shares of PENN Entertainment from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.25.

PENN Entertainment Price Performance

NASDAQ:PENN opened at $18.52 on Wednesday. PENN Entertainment, Inc. has a 1-year low of $13.25 and a 1-year high of $23.08. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39. The firm has a fifty day simple moving average of $17.81 and a 200 day simple moving average of $17.34. The stock has a market capitalization of $2.70 billion, a PE ratio of -33.07 and a beta of 1.60.

PENN Entertainment (NASDAQ:PENN) last released its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.14. PENN Entertainment had a negative net margin of 1.12% and a negative return on equity of 4.36%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business earned ($0.18) earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal year.

PENN Entertainment Company 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.