PENN Entertainment, Inc. (NASDAQ:PENN) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 244.7% in the third quarter, HoldingsChannel.com reports. The fund owned 249,106 shares of the company’s stock after buying an additional 176,844 shares during the quarter. Janus Henderson Group PLC’s holdings in PENN Entertainment were worth $4,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Driehaus Capital Management LLC acquired a new position in shares of PENN Entertainment during the 2nd quarter worth approximately $4,535,000. Verition Fund Management LLC increased its position 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 buying an additional 356,029 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of PENN Entertainment by 84.7% in the third quarter. Quantbot Technologies LP now owns 208,094 shares of the company’s stock worth $3,925,000 after acquiring an additional 95,423 shares during the last quarter. Public Sector Pension Investment Board purchased a new stake in shares of PENN Entertainment in the second quarter valued at $6,363,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of PENN Entertainment by 1,051.0% during the third quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company’s stock valued at $26,809,000 after acquiring an additional 1,297,976 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Trading Down 4.8 %

NASDAQ PENN opened at $18.91 on Wednesday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $27.20. The company’s 50 day moving average price is $19.88 and its 200 day moving average price is $19.08. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of -5.33 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts predict that PENN Entertainment, Inc. will post -1.53 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PENN shares. Susquehanna cut their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research note on Monday, November 4th. Barclays cut their price objective on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Needham & Company LLC restated a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Friday, November 8th. Bank of America began coverage on shares of PENN Entertainment in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 target price for the company. Finally, Wells Fargo & Company raised their price objective on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.29.

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.