Y Intercept Hong Kong Ltd Sells 56,523 Shares of PENN Entertainment, Inc. $PENN

Y Intercept Hong Kong Ltd cut its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 42.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 75,592 shares of the company’s stock after selling 56,523 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in PENN Entertainment were worth $1,456,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in PENN Entertainment by 22.4% during the third quarter. GAMMA Investing LLC now owns 3,042 shares of the company’s stock valued at $59,000 after purchasing an additional 556 shares in the last quarter. CWM LLC raised its holdings in shares of PENN Entertainment by 89.6% during the 3rd quarter. CWM LLC now owns 7,964 shares of the company’s stock worth $153,000 after buying an additional 3,764 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of PENN Entertainment by 20.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,358 shares of the company’s stock worth $149,000 after buying an additional 1,446 shares during the last quarter. Blue Trust Inc. boosted its stake in PENN Entertainment by 10.1% in the third quarter. Blue Trust Inc. now owns 10,168 shares of the company’s stock valued at $196,000 after buying an additional 929 shares in the last quarter. Finally, Silver Oak Securities Incorporated bought a new position in PENN Entertainment in the third quarter valued at about $269,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Activity

In other news, CEO Jay A. Snowden bought 34,700 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $14.32 per share, with a total value of $496,904.00. Following the completion of the purchase, the chief executive officer directly owned 1,117,325 shares of the company’s stock, valued at approximately $16,000,094. This represents a 3.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director David A. Handler bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average price of $14.25 per share, for a total transaction of $285,000.00. Following the acquisition, the director owned 362,941 shares of the company’s stock, valued at $5,171,909.25. This trade represents a 5.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 62,015 shares of company stock worth $882,778 in the last 90 days. 2.67% of the stock is owned by company insiders.

PENN Entertainment Stock Down 2.4%

Shares of NASDAQ:PENN opened at $12.84 on Friday. The firm has a market cap of $1.71 billion, a P/E ratio of -2.02, a P/E/G ratio of 0.44 and a beta of 1.34. PENN Entertainment, Inc. has a 12-month low of $12.66 and a 12-month high of $23.08. The business has a fifty day simple moving average of $14.30 and a 200 day simple moving average of $16.63. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 3.65.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.12). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. PENN Entertainment had a negative net margin of 13.24% and a negative return on equity of 4.59%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.24) EPS. Analysts predict that PENN Entertainment, Inc. will post -1.61 earnings per share for the current year.

Analysts Set New Price Targets

PENN has been the subject of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of PENN Entertainment in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PENN Entertainment from $19.00 to $17.00 and set a “hold” rating for the company in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a research note on Monday, December 29th. Stifel Nicolaus upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and upped their price target for the stock from $19.00 to $21.00 in a report on Friday, November 7th. Finally, Morgan Stanley cut their price objective on PENN Entertainment from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, January 16th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, PENN Entertainment currently has an average rating of “Hold” and a consensus target price of $21.13.

PENN Entertainment Company Profile

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.