River Global Investors LLP Reduces Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

River Global Investors LLP reduced its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,465 shares of the company’s stock after selling 2,529 shares during the period. River Global Investors LLP’s holdings in PENN Entertainment were worth $1,235,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PENN. Kettle Hill Capital Management LLC purchased a new position in PENN Entertainment in the 3rd quarter valued at approximately $19,792,000. Assenagon Asset Management S.A. increased its stake in PENN Entertainment by 443.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 714,900 shares of the company’s stock valued at $16,407,000 after purchasing an additional 583,388 shares in the last quarter. Source Financial Advisors LLC grew its holdings in PENN Entertainment by 1,061.1% during the 3rd quarter. Source Financial Advisors LLC now owns 322,633 shares of the company’s stock valued at $7,404,000 after buying an additional 294,845 shares during the last quarter. Earnest Partners LLC grew its holdings in PENN Entertainment by 11.1% during the 3rd quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock valued at $62,380,000 after buying an additional 271,254 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in PENN Entertainment by 5,950.6% during the 4th quarter. National Bank of Canada FI now owns 251,828 shares of the company’s stock valued at $6,535,000 after buying an additional 247,666 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Trading Up 0.8 %

Shares of PENN traded up $0.12 during trading hours on Friday, hitting $15.13. The stock had a trading volume of 8,572,736 shares, compared to its average volume of 6,675,829. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $2.30 billion, a P/E ratio of -2.03 and a beta of 2.06. The company’s fifty day simple moving average is $17.44 and its 200 day simple moving average is $21.17. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $29.38.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results 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). The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. PENN Entertainment had a negative return on equity of 3.39% and a negative net margin of 17.77%. Equities research analysts forecast that PENN Entertainment, Inc. will post -0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on PENN. StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Barclays lowered their target price on PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday. Macquarie lowered their target price on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a report on Tuesday, April 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of PENN Entertainment in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, PENN Entertainment has an average rating of “Hold” and a consensus target price of $26.93.

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.