Blue Trust Inc. Lowers Stock Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Blue Trust Inc. lowered its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,180 shares of the company’s stock after selling 1,009 shares during the period. Blue Trust Inc.’s holdings in PENN Entertainment were worth $173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Algert Global LLC purchased a new position in shares of PENN Entertainment in the second quarter worth about $267,000. Creative Planning grew its position in PENN Entertainment by 16.2% during the 2nd quarter. Creative Planning now owns 14,775 shares of the company’s stock worth $286,000 after acquiring an additional 2,057 shares during the last quarter. Cetera Investment Advisers increased its stake in PENN Entertainment by 7.8% in the 2nd quarter. Cetera Investment Advisers now owns 136,694 shares of the company’s stock worth $2,646,000 after purchasing an additional 9,887 shares during the period. Sanctuary Advisors LLC bought a new stake in PENN Entertainment in the second quarter valued at approximately $1,236,000. Finally, GAMMA Investing LLC boosted its stake in shares of PENN Entertainment by 88.5% during the third quarter. GAMMA Investing LLC now owns 2,716 shares of the company’s stock valued at $51,000 after purchasing an additional 1,275 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Stock Performance

Shares of PENN opened at $20.90 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a market cap of $3.19 billion, a P/E ratio of -5.89, a P/E/G ratio of 1.52 and a beta of 2.09. The business’s 50 day moving average price is $19.86 and its 200-day moving average price is $19.41. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $23.81.

PENN Entertainment (NASDAQ:PENN) last released 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. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. Equities research analysts anticipate that PENN Entertainment, Inc. will post -1.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PENN has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th. Jefferies Financial Group raised their target price on PENN Entertainment from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, January 3rd. Craig Hallum reaffirmed a “buy” rating and set a $30.00 price target on shares of PENN Entertainment in a research report on Tuesday, October 8th. Finally, Macquarie increased their price objective on PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $23.44.

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.