Raymond James Financial Inc. Has $6.91 Million Holdings in PENN Entertainment, Inc. $PENN

Raymond James Financial Inc. lessened its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 52.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 423,689 shares of the company’s stock after selling 474,606 shares during the quarter. Raymond James Financial Inc.’s holdings in PENN Entertainment were worth $6,910,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of PENN Entertainment by 54.6% in the first quarter. Invesco Ltd. now owns 6,002,749 shares of the company’s stock valued at $97,905,000 after purchasing an additional 2,120,740 shares in the last quarter. DME Capital Management LP raised its position in PENN Entertainment by 2.3% during the fourth quarter. DME Capital Management LP now owns 5,748,440 shares of the company’s stock valued at $113,934,000 after buying an additional 127,670 shares during the period. Kettle Hill Capital Management LLC raised its position in PENN Entertainment by 43.1% during the fourth quarter. Kettle Hill Capital Management LLC now owns 1,801,787 shares of the company’s stock valued at $35,711,000 after buying an additional 542,585 shares during the period. Man Group plc lifted its stake in PENN Entertainment by 25.0% in the 4th quarter. Man Group plc now owns 1,398,998 shares of the company’s stock worth $27,728,000 after acquiring an additional 279,726 shares in the last quarter. Finally, Northern Trust Corp boosted its position 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 acquiring an additional 169,518 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PENN has been the topic of a number of research reports. Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a report on Monday, May 19th. Morgan Stanley reiterated a “sell” rating on shares of PENN Entertainment in a research note on Friday, July 11th. Stifel Nicolaus increased their target price on shares of PENN Entertainment from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, July 11th. Mizuho lowered their price target on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. started coverage on shares of PENN Entertainment in a research note on Monday, June 23rd. They issued an “overweight” rating and a $24.00 price target on the stock. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.25.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler purchased 20,000 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $16.96 per share, for a total transaction of $339,200.00. Following the completion of the acquisition, the director directly owned 342,941 shares in the company, valued at $5,816,279.36. This represents a 6.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.67% of the stock is owned by company insiders.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $19.97 on Wednesday. The business has a 50-day moving average of $18.39 and a two-hundred day moving average of $17.22. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.79 and a quick ratio of 0.79. PENN Entertainment, Inc. has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The stock has a market capitalization of $2.92 billion, a P/E ratio of -35.66 and a beta of 1.41.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.73 billion. During the same period in the prior year, the firm earned ($0.18) EPS. PENN Entertainment’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal 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.