Stifel Financial Corp Decreases Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Stifel Financial Corp lowered its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,585 shares of the company’s stock after selling 5,611 shares during the period. Stifel Financial Corp’s holdings in PENN Entertainment were worth $3,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale bought a new stake in shares of PENN Entertainment in the 3rd quarter valued at approximately $45,000. GAMMA Investing LLC lifted its position in PENN Entertainment by 88.5% in the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock worth $51,000 after buying an additional 1,275 shares during the last quarter. Quest Partners LLC purchased a new position in PENN Entertainment during the third quarter worth $56,000. International Assets Investment Management LLC increased its position in PENN Entertainment by 1,634.8% during the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after acquiring an additional 3,057 shares during the last quarter. Finally, Quarry LP raised its stake in shares of PENN Entertainment by 76.7% in the second quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after acquiring an additional 1,862 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

PENN has been the subject of a number of recent analyst reports. Bank of America started coverage on shares of PENN Entertainment in a report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price target on the stock. Mizuho reduced their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. StockNews.com upgraded PENN Entertainment from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company increased their target price on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Susquehanna lowered 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. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.53.

PENN Entertainment Trading Down 3.4 %

PENN opened at $19.16 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -5.40 and a beta of 2.08. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $27.20. The stock has a fifty day moving average price of $20.00 and a 200-day moving average price of $19.23.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) EPS 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 business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, equities research 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.