Banco Bilbao Vizcaya Argentaria S.A. Purchases Shares of 17,253 PENN Entertainment, Inc. $PENN

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. acquired 17,253 shares of PENN Entertainment, valued at approximately $289,000, during the first quarter according to a recent SEC filing.
• PENN Entertainment reported a quarterly earnings per share of $0.10, surpassing estimates and indicating a 6.1% revenue increase compared to the previous year.
• The stock currently has a consensus rating of "Moderate Buy" among analysts, with an average target price of $23.25.

Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,253 shares of the company's stock, valued at approximately $289,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PENN. GAMMA Investing LLC raised its stake in shares of PENN Entertainment by 38.7% in the 1st quarter. GAMMA Investing LLC now owns 2,636 shares of the company's stock valued at $43,000 after purchasing an additional 736 shares in the last quarter. J.Safra Asset Management Corp raised its stake in shares of PENN Entertainment by 6.7% in the 1st quarter. J.Safra Asset Management Corp now owns 13,877 shares of the company's stock valued at $226,000 after purchasing an additional 877 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of PENN Entertainment by 5.2% in the 1st quarter. HighTower Advisors LLC now owns 19,327 shares of the company's stock valued at $315,000 after purchasing an additional 953 shares in the last quarter. Arizona State Retirement System raised its stake in shares of PENN Entertainment by 4.3% in the 1st quarter. Arizona State Retirement System now owns 41,433 shares of the company's stock valued at $676,000 after purchasing an additional 1,707 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in shares of PENN Entertainment by 11.7% in the 4th quarter. Tidal Investments LLC now owns 16,626 shares of the company's stock valued at $330,000 after purchasing an additional 1,738 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Stock Down 0.2%

Shares of PENN Entertainment stock traded down $0.04 during midday trading on Friday, reaching $20.14. 1,157,481 shares of the company's stock traded hands, compared to its average volume of 4,270,372. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -35.95 and a beta of 1.60. The company's 50 day simple moving average is $18.21 and its 200 day simple moving average is $17.29. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.79 and a current ratio of 0.79. PENN Entertainment, Inc. has a 52 week low of $13.25 and a 52 week high of $23.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.14. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.73 billion. PENN Entertainment had a negative net margin of 1.12% and a negative return on equity of 4.36%. PENN Entertainment's revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted ($0.18) EPS. Equities analysts expect that PENN Entertainment, Inc. will post -1.61 earnings per share for the current fiscal year.

Insider Transactions at PENN Entertainment

In related news, Director David A. Handler purchased 20,000 shares of the firm's stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $16.96 per share, for a total transaction of $339,200.00. Following the transaction, the director directly owned 342,941 shares of the company's stock, valued at approximately $5,816,279.36. This trade represents a 6.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PENN shares. Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a research note on Monday, May 19th. Needham & Company LLC decreased their price objective on shares of PENN Entertainment from $25.00 to $22.00 and set a "buy" rating for the company in a report on Friday, August 8th. JMP Securities increased their target price on shares of PENN Entertainment from $24.00 to $25.00 and gave the stock a "market outperform" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. initiated coverage on shares of PENN Entertainment in a research report on Monday, June 23rd. They issued an "overweight" rating and a $24.00 target price for the company. Finally, Susquehanna reiterated a "positive" rating and issued a $25.00 target price (up previously from $24.00) on shares of PENN Entertainment in a research report on Tuesday, June 10th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PENN Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $23.25.

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.