Beverly Hills Private Wealth LLC Trims Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

Beverly Hills Private Wealth LLC lessened its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 11.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,172 shares of the company’s stock after selling 1,889 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in PENN Entertainment were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. B. Riley Wealth Advisors Inc. lifted its position in PENN Entertainment by 7.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock valued at $252,000 after purchasing an additional 632 shares in the last quarter. United Services Automobile Association grew its stake in shares of PENN Entertainment by 6.3% during the 2nd quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock valued at $232,000 after acquiring an additional 712 shares during the period. Aaron Wealth Advisors LLC increased its holdings in PENN Entertainment by 6.0% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company’s stock worth $247,000 after acquiring an additional 720 shares in the last quarter. Arizona State Retirement System raised its stake in PENN Entertainment by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock worth $743,000 after acquiring an additional 944 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of PENN Entertainment by 233.6% in the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after purchasing an additional 1,009 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Anuj Dhanda purchased 15,000 shares of PENN Entertainment stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $18.40 per share, with a total value of $276,000.00. Following the purchase, the director now directly owns 31,523 shares of the company’s stock, valued at approximately $580,023.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jay A. Snowden acquired 54,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the acquisition, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anuj Dhanda acquired 15,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $18.40 per share, with a total value of $276,000.00. Following the completion of the purchase, the director now owns 31,523 shares of the company’s stock, valued at $580,023.20. The disclosure for this purchase can be found here. In the last three months, insiders acquired 79,200 shares of company stock valued at $1,450,548. Insiders own 2.19% of the company’s stock.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $19.90 on Friday. The firm has a market capitalization of $3.04 billion, a PE ratio of -2.67 and a beta of 2.10. The stock’s fifty day moving average is $18.96 and its 200 day moving average is $17.91. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03.

PENN Entertainment (NASDAQ:PENN) last released its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS. On average, sell-side analysts anticipate that PENN Entertainment, Inc. will post -1.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PENN shares. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a report on Tuesday, June 4th. Raymond James lowered PENN Entertainment from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Morgan Stanley lowered their price target on PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Barclays upped their target price on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus lifted their price target on shares of PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.77.

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.