CW Advisors LLC Acquires New Position in PENN Entertainment, Inc. $PENN

Key Points

• CW Advisors LLC purchased 19,671 shares of PENN Entertainment, valued at approximately $323,000, during the first quarter, according to its 13F filing.
• The majority of PENN Entertainment's stock, about 91.69%, is currently owned by institutional investors and hedge funds, indicating strong institutional interest.
• Analysts have set a consensus rating of "Moderate Buy" for PENN Entertainment stock, with an average target price of $23.25 following various rating adjustments from brokerages.

CW Advisors LLC purchased a new stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,671 shares of the company's stock, valued at approximately $323,000.

Several other large investors have also added to or reduced their stakes in PENN. Price T Rowe Associates Inc. MD lifted its position in PENN Entertainment by 7.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 103,589 shares of the company's stock valued at $2,054,000 after acquiring an additional 7,155 shares in the last quarter. Northern Trust Corp increased its stake in shares of PENN Entertainment by 19.4% during the 4th quarter. Northern Trust Corp now owns 1,043,383 shares of the company's stock worth $20,680,000 after purchasing an additional 169,518 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in PENN Entertainment by 11.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 141,777 shares of the company's stock worth $2,810,000 after buying an additional 14,549 shares during the period. Aristeia Capital L.L.C. boosted its holdings in PENN Entertainment by 7.5% in the 4th quarter. Aristeia Capital L.L.C. now owns 29,001 shares of the company's stock worth $575,000 after buying an additional 2,016 shares during the period. Finally, Anson Funds Management LP bought a new position in PENN Entertainment in the 4th quarter valued at $198,000. Institutional investors own 91.69% of the company's stock.

Insider Activity

In related news, Director David A. Handler acquired 20,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $16.96 per share, for a total transaction of $339,200.00. Following the acquisition, the director directly owned 342,941 shares of the company's stock, valued at $5,816,279.36. This represents a 6.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.67% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Needham & Company LLC cut their price target 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. 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 price objective on the stock. JMP Securities boosted their price target on shares of PENN Entertainment from $24.00 to $25.00 and gave the company a "market outperform" rating in a research report on Friday, August 8th. Barclays reduced their price target on shares of PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Finally, Wall Street Zen cut shares of PENN Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, PENN Entertainment has an average rating of "Moderate Buy" and an average target price of $23.25.

PENN Entertainment Trading Down 0.0%

Shares of PENN Entertainment stock traded down $0.01 during trading on Wednesday, hitting $19.96. The stock had a trading volume of 383,294 shares, compared to its average volume of 4,243,298. The firm's fifty day simple moving average is $18.39 and its 200-day simple moving average is $17.22. The stock has a market cap of $2.91 billion, a PE ratio of -35.80 and a beta of 1.41. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.79 and a quick ratio of 0.79. PENN Entertainment, Inc. has a 12 month low of $13.25 and a 12 month high of $23.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.14. The firm had revenue of $1.77 billion during 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%. The business's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.18) EPS. As a group, sell-side analysts expect that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal 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.