PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC decreased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 30.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,900 shares of the company’s stock after selling 816 shares during the quarter. GAMMA Investing LLC’s holdings in PENN Entertainment were worth $38,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. M&T Bank Corp raised its holdings in shares of PENN Entertainment by 4.2% during the third quarter. M&T Bank Corp now owns 12,460 shares of the company’s stock valued at $235,000 after acquiring an additional 497 shares during the last quarter. XTX Topco Ltd increased its position in shares of PENN Entertainment by 2.8% during the third quarter. XTX Topco Ltd now owns 23,362 shares of the company’s stock worth $441,000 after purchasing an additional 641 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in PENN Entertainment by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company’s stock valued at $328,000 after purchasing an additional 665 shares during the last quarter. New World Advisors LLC lifted its holdings in PENN Entertainment by 7.5% in the 3rd quarter. New World Advisors LLC now owns 15,800 shares of the company’s stock valued at $298,000 after purchasing an additional 1,100 shares in the last quarter. Finally, ASB Consultores LLC boosted its stake in PENN Entertainment by 8.4% during the 3rd quarter. ASB Consultores LLC now owns 14,200 shares of the company’s stock worth $268,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

PENN Entertainment stock opened at $20.65 on Wednesday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -5.82 and a beta of 2.08. The company’s 50 day simple moving average is $19.93 and its 200-day simple moving average is $19.34. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $24.57.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts expect that PENN Entertainment, Inc. will post -1.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PENN has been the subject of a number of recent research reports. Jefferies Financial Group increased their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, January 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a report on Friday, November 8th. Mizuho lowered their target price 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 cut PENN Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. Finally, JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.44.

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.