Janus Henderson Group PLC Trims Stock Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Janus Henderson Group PLC cut its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 74.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,062 shares of the company's stock after selling 186,044 shares during the period. Janus Henderson Group PLC's holdings in PENN Entertainment were worth $1,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. IFP Advisors Inc lifted its stake in PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock worth $31,000 after purchasing an additional 1,052 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of PENN Entertainment in the 4th quarter valued at about $92,000. KBC Group NV boosted its position in shares of PENN Entertainment by 36.5% during the 4th quarter. KBC Group NV now owns 5,501 shares of the company's stock valued at $109,000 after acquiring an additional 1,470 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of PENN Entertainment by 914.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock worth $119,000 after purchasing an additional 5,852 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of PENN Entertainment by 51.8% in the fourth quarter. Sterling Capital Management LLC now owns 9,030 shares of the company's stock worth $179,000 after purchasing an additional 3,080 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

PENN has been the subject of a number of research reports. Macquarie reissued an "outperform" rating and issued a $26.00 price target on shares of PENN Entertainment in a research note on Friday, February 28th. Needham & Company LLC cut their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Susquehanna lowered their price target on PENN Entertainment from $26.00 to $23.00 and set a "positive" rating on the stock in a research report on Tuesday, April 15th. Canaccord Genuity Group cut their price objective on PENN Entertainment from $28.00 to $26.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Wells Fargo & Company increased their price objective on PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $23.10.

PENN Entertainment Trading Down 0.1%

Shares of PENN Entertainment stock traded down $0.02 on Wednesday, hitting $15.37. The stock had a trading volume of 324,092 shares, compared to its average volume of 4,195,892. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. PENN Entertainment, Inc. has a one year low of $13.25 and a one year high of $23.08. The stock's 50-day simple moving average is $15.48 and its two-hundred day simple moving average is $18.41. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -4.33, a PEG ratio of 1.55 and a beta of 1.81.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) 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 analyst estimates of $1.71 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The company's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.76) EPS. As a group, sell-side analysts predict that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

About PENN Entertainment

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.