Cwm LLC Has $248,000 Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

Cwm LLC increased its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 80.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,614 shares of the company’s stock after acquiring an additional 6,063 shares during the period. Cwm LLC’s holdings in PENN Entertainment were worth $248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PENN. Norges Bank acquired a new stake in shares of PENN Entertainment during the fourth quarter worth $42,758,000. ING Groep NV acquired a new stake in shares of PENN Entertainment during the fourth quarter worth $32,556,000. Kettle Hill Capital Management LLC acquired a new stake in shares of PENN Entertainment during the third quarter worth $19,792,000. Sei Investments Co. raised its holdings in shares of PENN Entertainment by 52.8% during the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after acquiring an additional 725,221 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of PENN Entertainment during the fourth quarter worth $16,341,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Felicia Hendrix bought 16,157 shares of PENN Entertainment stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $15.47 per share, with a total value of $249,948.79. Following the acquisition, the chief financial officer now owns 68,596 shares of the company’s stock, valued at approximately $1,061,180.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PENN Entertainment news, CFO Felicia Hendrix acquired 16,157 shares of the company’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $15.47 per share, for a total transaction of $249,948.79. Following the purchase, the chief financial officer now directly owns 68,596 shares of the company’s stock, valued at $1,061,180.12. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David A. Handler acquired 20,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $15.37 per share, with a total value of $307,400.00. Following the purchase, the director now directly owns 243,450 shares in the company, valued at $3,741,826.50. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 76,157 shares of company stock valued at $1,154,949. Company insiders own 2.19% of the company’s stock.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $19.83 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. The company has a 50-day simple moving average of $16.71 and a 200 day simple moving average of $19.63. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $29.38.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, May 2nd. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.20). The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. As a group, equities analysts forecast that PENN Entertainment, Inc. will post -1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PENN shares. Susquehanna reaffirmed a “positive” rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday. Canaccord Genuity Group decreased their target price on shares of PENN Entertainment from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Barclays decreased their target price on shares of PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Raymond James started coverage on shares of PENN Entertainment in a research report on Tuesday, May 21st. They issued an “outperform” rating and a $20.00 target price for the company. Finally, StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment has a consensus rating of “Hold” and a consensus price target of $25.10.

PENN Entertainment Company 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.