PNC Financial Services Group Inc. Has $363,000 Position in PENN Entertainment, Inc. (NASDAQ:PENN)

PNC Financial Services Group Inc. increased its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 12.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,942 shares of the company’s stock after acquiring an additional 1,522 shares during the period. PNC Financial Services Group Inc.’s holdings in PENN Entertainment were worth $363,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of PENN Entertainment in the 4th quarter valued at approximately $42,758,000. ING Groep NV bought a new stake in shares of PENN Entertainment during the fourth quarter worth $32,556,000. Kettle Hill Capital Management LLC acquired a new position in shares of PENN Entertainment during the third quarter worth $19,792,000. Sei Investments Co. lifted its stake in shares of PENN Entertainment by 52.8% in the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock valued at $54,595,000 after acquiring an additional 725,221 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of PENN Entertainment during the 4th quarter valued at $16,341,000. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Stock Up 2.5 %

PENN Entertainment stock opened at $19.36 on Friday. The company has a market capitalization of $2.95 billion, a PE ratio of -2.60 and a beta of 2.06. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $29.38. The firm’s fifty day moving average is $16.96 and its 200 day moving average is $19.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share 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 analyst estimates of $1.63 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. As a group, sell-side analysts predict that PENN Entertainment, Inc. will post -1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Craig Hallum raised PENN Entertainment from a “hold” rating to a “buy” rating and lifted their price target for the company from $20.00 to $30.00 in a research note on Friday, June 21st. Raymond James downgraded shares of PENN Entertainment from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Truist Financial boosted their price objective on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. StockNews.com lowered PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.10.

Insider Buying and Selling

In other news, Director David A. Handler acquired 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average price of $14.94 per share, for a total transaction of $597,600.00. Following the completion of the acquisition, the director now directly owns 283,450 shares in the company, valued at approximately $4,234,743. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other PENN Entertainment news, Director David A. Handler acquired 40,000 shares of PENN Entertainment stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average cost of $14.94 per share, for a total transaction of $597,600.00. Following the completion of the acquisition, the director now directly owns 283,450 shares of the company’s stock, valued at $4,234,743. The transaction 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 stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $15.37 per share, with a total value of $307,400.00. Following the completion of the purchase, the director now owns 243,450 shares of the company’s stock, valued at $3,741,826.50. The disclosure for this purchase can be found here. In the last three months, insiders have bought 76,157 shares of company stock valued at $1,154,949. 2.19% of the stock is owned by company insiders.

About PENN Entertainment

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.