PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 4.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 704,485 shares of the company’s stock after selling 29,355 shares during the period. Principal Financial Group Inc. owned about 0.46% of PENN Entertainment worth $13,287,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of PENN Entertainment during the 3rd quarter worth $45,000. GAMMA Investing LLC lifted its holdings in PENN Entertainment by 88.5% during the 3rd 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 acquired a new position in shares of PENN Entertainment during the 3rd quarter worth about $56,000. International Assets Investment Management LLC increased its holdings in shares of PENN Entertainment by 1,634.8% in the 3rd 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 lifted its stake in PENN Entertainment by 76.7% during the second quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after purchasing an additional 1,862 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Truist Financial reduced their price target on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $27.00 in a report on Friday, December 13th. Mizuho reduced their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

PENN Entertainment Price Performance

PENN Entertainment stock opened at $18.69 on Friday. The company has a market cap of $2.85 billion, a P/E ratio of -5.26 and a beta of 2.08. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $27.20. The business has a fifty day moving average of $19.96 and a two-hundred day moving average of $19.29. 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 (NASDAQ:PENN) last released its quarterly earnings data 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 firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, analysts predict that PENN Entertainment, Inc. will post -1.55 earnings per share for the current fiscal year.

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.