Northern Trust Corp Has $16.75 Million Stock Holdings in PENN Entertainment, Inc. $PENN

Key Points

• Northern Trust Corp has reduced its stake in PENN Entertainment by 1.6%, currently holding 1,027,180 shares valued at approximately $16.75 million.
• Institutional investors own 91.69% of PENN Entertainment's stock, highlighting significant institutional interest in the company.
• PENN Entertainment recently reported a quarterly revenue of $1.77 billion and EPS of $0.10, beating analysts' expectations, while its stock has a consensus rating of "Moderate Buy".

Northern Trust Corp lowered its position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,027,180 shares of the company's stock after selling 16,203 shares during the quarter. Northern Trust Corp owned 0.68% of PENN Entertainment worth $16,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Trek Financial LLC bought a new stake in PENN Entertainment during the 1st quarter worth approximately $246,000. Principal Financial Group Inc. lifted its holdings in shares of PENN Entertainment by 2.4% during the first quarter. Principal Financial Group Inc. now owns 742,899 shares of the company's stock worth $12,117,000 after purchasing an additional 17,752 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of PENN Entertainment by 33.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 264,587 shares of the company's stock worth $5,244,000 after purchasing an additional 65,596 shares during the period. LMR Partners LLP grew its stake in shares of PENN Entertainment by 608.9% in the fourth quarter. LMR Partners LLP now owns 41,026 shares of the company's stock worth $813,000 after purchasing an additional 35,239 shares during the last quarter. Finally, KBC Group NV increased its holdings in PENN Entertainment by 42.2% in the first quarter. KBC Group NV now owns 7,824 shares of the company's stock valued at $128,000 after purchasing an additional 2,323 shares during the period. 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 business's stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $16.96 per share, with a total value of $339,200.00. Following the transaction, the director directly owned 342,941 shares of the company's stock, valued at $5,816,279.36. This trade represents a 6.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.67% of the stock is owned by company insiders.

PENN Entertainment Stock Performance

Shares of PENN stock opened at $19.97 on Wednesday. The firm has a 50 day moving average of $18.39 and a 200-day moving average of $17.22. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -35.66 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 2.39. 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 released 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 company had revenue of $1.77 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.18) EPS. On average, equities analysts forecast that PENN Entertainment, Inc. will post -1.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PENN. Citigroup reiterated an "outperform" rating on shares of PENN Entertainment in a research report on Friday, August 8th. Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a report on Monday, May 19th. Morgan Stanley restated a "sell" rating on shares of PENN Entertainment in a report on Friday, July 11th. Barclays dropped 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, JMP Securities increased their price objective 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. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.25.

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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