Janus Henderson Group PLC Has $1.25 Million Stock Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Janus Henderson Group PLC trimmed its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 74.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,062 shares of the company's stock after selling 186,044 shares during the quarter. Janus Henderson Group PLC's holdings in PENN Entertainment were worth $1,250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. M&T Bank Corp lifted its position in shares of PENN Entertainment by 4.7% during the 4th quarter. M&T Bank Corp now owns 13,044 shares of the company's stock worth $259,000 after buying an additional 584 shares during the last quarter. CIBC Asset Management Inc raised its stake in PENN Entertainment by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 14,774 shares of the company's stock worth $293,000 after acquiring an additional 813 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of PENN Entertainment by 201.5% in the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock worth $31,000 after acquiring an additional 1,052 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of PENN Entertainment by 1.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 103,305 shares of the company's stock worth $2,048,000 after acquiring an additional 1,426 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of PENN Entertainment by 36.5% in the 4th quarter. KBC Group NV now owns 5,501 shares of the company's stock valued at $109,000 after purchasing an additional 1,470 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Needham & Company LLC dropped their price target on PENN Entertainment from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Wall Street Zen upgraded PENN Entertainment from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Susquehanna lowered their target price on PENN Entertainment from $26.00 to $23.00 and set a "positive" rating for the company in a report on Tuesday, April 15th. Finally, Morgan Stanley cut their price target on PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $23.10.

Insider Activity at PENN Entertainment

In related news, Director David A. Handler purchased 10,000 shares of the firm's 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 purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay A. Snowden acquired 34,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were bought at an average cost of $14.70 per share, for a total transaction of $499,800.00. Following the transaction, the chief executive officer now directly owns 1,082,625 shares in the company, valued at approximately $15,914,587.50. This represents a 3.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.19% of the stock is owned by corporate insiders.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $14.66 on Friday. The business has a 50-day moving average price of $15.59 and a two-hundred day moving average price of $18.51. PENN Entertainment, Inc. has a 1-year low of $13.25 and a 1-year high of $23.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The company has a market cap of $2.21 billion, a P/E ratio of -4.13, a PEG ratio of 1.55 and a beta of 1.81.

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. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the company posted ($0.76) earnings per share. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. As a group, analysts anticipate that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

PENN Entertainment Company 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.

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