3,013 Shares in PENN Entertainment, Inc. (NASDAQ:PENN) Purchased by Rakuten Securities Inc.

Rakuten Securities Inc. bought a new stake in PENN Entertainment, Inc. (NASDAQ:PENN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,013 shares of the company’s stock, valued at approximately $78,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Earnest Partners LLC increased its stake in PENN Entertainment by 11.1% in the third quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock valued at $62,380,000 after acquiring an additional 271,254 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of PENN Entertainment by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 2,321,981 shares of the company’s stock valued at $68,870,000 after purchasing an additional 50,999 shares during the last quarter. Norges Bank bought a new position in shares of PENN Entertainment in the 4th quarter valued at $59,504,000. Charles Schwab Investment Management Inc. lifted its position in shares of PENN Entertainment by 5.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,882,461 shares of the company’s stock worth $79,854,000 after buying an additional 97,988 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of PENN Entertainment by 79.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company’s stock worth $75,891,000 after buying an additional 791,500 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Price Performance

Shares of PENN opened at $16.26 on Thursday. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -4.47 and a beta of 2.06. PENN Entertainment, Inc. has a 1 year low of $15.88 and a 1 year high of $31.63. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50-day moving average of $18.24 and a 200-day moving average of $21.54.

PENN Entertainment (NASDAQ:PENN) last posted 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). The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. As a group, equities research analysts anticipate that PENN Entertainment, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on PENN. Benchmark started coverage on PENN Entertainment in a research note on Tuesday. They set a “hold” rating for the company. Mizuho began coverage on shares of PENN Entertainment in a research report on Tuesday, March 26th. They set a “buy” rating and a $29.00 price objective for the company. StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Macquarie decreased their target price on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Finally, Morgan Stanley increased their price target on PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.47.

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.