Graypoint LLC Decreases Stock Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Graypoint LLC reduced its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 13.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,732 shares of the company’s stock after selling 2,650 shares during the period. Graypoint LLC’s holdings in PENN Entertainment were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PENN. Commonwealth Equity Services LLC grew its position in PENN Entertainment by 2.7% in the second quarter. Commonwealth Equity Services LLC now owns 49,872 shares of the company’s stock worth $965,000 after acquiring an additional 1,289 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of PENN Entertainment by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock valued at $743,000 after purchasing an additional 944 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of PENN Entertainment by 62.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 434,571 shares of the company’s stock worth $8,411,000 after purchasing an additional 167,164 shares during the period. WINTON GROUP Ltd bought a new position in shares of PENN Entertainment during the 2nd quarter valued at approximately $227,000. Finally, Dimensional Fund Advisors LP raised its holdings in PENN Entertainment by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,299,014 shares of the company’s stock valued at $25,140,000 after buying an additional 30,932 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PENN shares. Susquehanna cut their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a research report on Monday, November 4th. Macquarie upped their price target on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th. JPMorgan Chase & Co. raised PENN Entertainment from a “neutral” rating to an “overweight” rating and upped their target price for the company from $19.00 to $27.00 in a research note on Friday, December 13th. Finally, Mizuho decreased their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.44.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $19.19 on Friday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -5.41 and a beta of 2.08. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $24.57. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The company’s 50 day moving average is $19.87 and its 200 day moving average is $19.32.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the business posted $1.21 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that PENN Entertainment, Inc. will post -1.55 EPS for the current fiscal year.

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.