PENN Entertainment, Inc. (NASDAQ:PENN) Position Boosted by Westside Investment Management Inc.

Westside Investment Management Inc. lifted its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 27.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,274 shares of the company’s stock after purchasing an additional 3,722 shares during the period. Westside Investment Management Inc.’s holdings in PENN Entertainment were worth $315,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Envestnet Asset Management Inc. lifted its holdings in PENN Entertainment by 112.4% in the third quarter. Envestnet Asset Management Inc. now owns 250,172 shares of the company’s stock worth $5,741,000 after acquiring an additional 132,392 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in PENN Entertainment by 57.6% in the third quarter. Natixis Advisors L.P. now owns 113,548 shares of the company’s stock worth $2,606,000 after acquiring an additional 41,515 shares during the last quarter. Teza Capital Management LLC bought a new position in PENN Entertainment in the third quarter worth about $368,000. Gotham Asset Management LLC lifted its holdings in PENN Entertainment by 14.3% in the third quarter. Gotham Asset Management LLC now owns 67,506 shares of the company’s stock worth $1,549,000 after acquiring an additional 8,442 shares during the last quarter. Finally, United Services Automobile Association bought a new position in PENN Entertainment in the third quarter worth about $237,000. Institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PENN shares. Needham & Company LLC reissued a “buy” rating and issued a $26.00 target price on shares of PENN Entertainment in a report on Wednesday, May 15th. StockNews.com lowered shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, June 4th. Morgan Stanley raised their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Bank of America lowered shares of PENN Entertainment from a “buy” rating to a “neutral” rating and dropped their price target for the company from $28.00 to $17.50 in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.10.

Insider Buying and Selling

In other PENN Entertainment news, CFO Felicia Hendrix bought 16,157 shares of PENN Entertainment stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the acquisition, the chief financial officer now owns 68,596 shares of the company’s stock, valued at approximately $1,061,180.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Felicia Hendrix acquired 16,157 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average price of $15.47 per share, with a total value of $249,948.79. Following the purchase, the chief financial officer now owns 68,596 shares of the company’s stock, valued at approximately $1,061,180.12. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David A. Handler acquired 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average cost of $14.94 per share, with a total value of $597,600.00. Following the purchase, the director now directly owns 283,450 shares in the company, valued at approximately $4,234,743. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 76,157 shares of company stock worth $1,154,949. Corporate insiders own 2.19% of the company’s stock.

PENN Entertainment Trading Down 0.4 %

Shares of NASDAQ:PENN opened at $18.74 on Thursday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -2.52 and a beta of 2.11. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $29.38. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50 day moving average price of $17.04 and a 200 day moving average price of $19.30.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. On average, research analysts anticipate that PENN Entertainment, Inc. will post -1.35 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.