PENN Entertainment, Inc. (NASDAQ:PENN) Stock Holdings Raised by State Street Corp

State Street Corp raised its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 0.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,930,295 shares of the company’s stock after purchasing an additional 4,198 shares during the period. State Street Corp owned 3.23% of PENN Entertainment worth $92,985,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new stake in shares of PENN Entertainment in the 3rd quarter worth about $45,000. GAMMA Investing LLC grew its position in shares of PENN Entertainment by 88.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock valued at $51,000 after buying an additional 1,275 shares during the last quarter. Quest Partners LLC bought a new stake in shares of PENN Entertainment during the 3rd quarter valued at about $56,000. International Assets Investment Management LLC grew its position in shares of PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after buying an additional 3,057 shares during the last quarter. Finally, Quarry LP grew its position in shares of PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after buying an additional 1,862 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PENN shares. Morgan Stanley lowered their price objective on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised shares of PENN Entertainment from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $27.00 in a research report on Friday. Barclays decreased their target price 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. Bank of America started coverage on shares of PENN Entertainment in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 target price for the company. Finally, Wells Fargo & Company upped their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.53.

PENN Entertainment Trading Down 4.6 %

Shares of NASDAQ:PENN opened at $19.83 on Tuesday. The company has a 50 day moving average of $19.97 and a 200-day moving average of $19.18. The firm has a market cap of $3.03 billion, a P/E ratio of -5.86 and a beta of 2.08. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $27.20. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the business posted $1.21 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts anticipate that PENN Entertainment, Inc. will post -1.55 earnings per share 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.