PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP trimmed its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 7.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 151,893 shares of the company’s stock after selling 12,300 shares during the quarter. Readystate Asset Management LP owned approximately 0.10% of PENN Entertainment worth $3,952,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PENN. Cetera Advisor Networks LLC grew its holdings in shares of PENN Entertainment by 21.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 7,719 shares of the company’s stock worth $327,000 after acquiring an additional 1,365 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of PENN Entertainment by 92.0% during the first quarter. PNC Financial Services Group Inc. now owns 15,883 shares of the company’s stock valued at $674,000 after buying an additional 7,612 shares in the last quarter. Natixis Advisors L.P. purchased a new position in shares of PENN Entertainment during the first quarter valued at $556,000. MetLife Investment Management LLC grew its holdings in shares of PENN Entertainment by 24.3% during the first quarter. MetLife Investment Management LLC now owns 45,633 shares of the company’s stock valued at $1,936,000 after buying an additional 8,931 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of PENN Entertainment by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,228 shares of the company’s stock valued at $943,000 after buying an additional 1,377 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PENN has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Benchmark started coverage on PENN Entertainment in a research report on Tuesday. They set a “hold” rating for the company. StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Truist Financial reduced their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Finally, Stifel Nicolaus reduced their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.38.

PENN Entertainment Stock Performance

PENN traded down $0.28 on Wednesday, hitting $16.26. 5,790,996 shares of the stock traded hands, compared to its average volume of 5,634,357. PENN Entertainment, Inc. has a 52 week low of $15.88 and a 52 week high of $31.63. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $2.48 billion, a PE ratio of -4.47 and a beta of 2.06. The business has a fifty day moving average price of $18.24 and a two-hundred day moving average price of $21.54.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, research analysts predict that PENN Entertainment, Inc. will post -0.86 EPS for the current fiscal year.

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.