Ameriprise Financial Inc. Has $7.25 Million Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Ameriprise Financial Inc. trimmed its position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 365,878 shares of the company's stock after selling 32,718 shares during the period. Ameriprise Financial Inc. owned approximately 0.24% of PENN Entertainment worth $7,254,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PENN. Westside Investment Management Inc. raised its position in shares of PENN Entertainment by 3.2% in the 4th quarter. Westside Investment Management Inc. now owns 19,849 shares of the company's stock valued at $393,000 after acquiring an additional 620 shares during the period. SG Americas Securities LLC acquired a new stake in shares of PENN Entertainment in the 4th quarter valued at approximately $27,805,000. Hedges Asset Management LLC raised its position in shares of PENN Entertainment by 2.2% in the 4th quarter. Hedges Asset Management LLC now owns 204,650 shares of the company's stock valued at $4,056,000 after acquiring an additional 4,400 shares during the period. KBC Group NV raised its holdings in PENN Entertainment by 36.5% during the 4th quarter. KBC Group NV now owns 5,501 shares of the company's stock worth $109,000 after buying an additional 1,470 shares during the period. Finally, Total Clarity Wealth Management Inc. acquired a new stake in PENN Entertainment during the 4th quarter worth approximately $211,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on PENN shares. Susquehanna dropped their target price on shares of PENN Entertainment from $26.00 to $23.00 and set a "positive" rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company raised their target price on shares of PENN Entertainment from $20.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Macquarie restated an "outperform" rating and set a $26.00 target price on shares of PENN Entertainment in a report on Friday, February 28th. Wall Street Zen upgraded shares of PENN Entertainment from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Canaccord Genuity Group lowered their price objective on shares of PENN Entertainment from $28.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, PENN Entertainment presently has an average rating of "Hold" and an average price target of $23.10.

Insiders Place Their Bets

In related news, Director David A. Handler acquired 10,000 shares of PENN Entertainment stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $14.83 per share, with a total value of $148,300.00. Following the completion of the transaction, the director now directly owns 322,941 shares in the company, valued at $4,789,215.03. This trade represents a 3.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jay A. Snowden acquired 34,000 shares of PENN Entertainment stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $14.70 per share, with a total value of $499,800.00. Following the completion of the transaction, the chief executive officer now owns 1,082,625 shares of the company's stock, valued at approximately $15,914,587.50. This trade represents a 3.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.19% of the company's stock.

PENN Entertainment Stock Up 2.9%

PENN traded up $0.42 during trading on Friday, reaching $15.08. 4,055,643 shares of the stock were exchanged, compared to its average volume of 4,212,117. The stock has a market cap of $2.28 billion, a P/E ratio of -4.25, a price-to-earnings-growth ratio of 1.55 and a beta of 1.81. PENN Entertainment, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08. The stock's 50 day moving average price is $15.57 and its two-hundred day moving average price is $18.49. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.04. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.71 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.76) earnings per share. Equities analysts expect that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

PENN Entertainment 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.