UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 33.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 264,587 shares of the company's stock after acquiring an additional 65,596 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of PENN Entertainment worth $5,244,000 at the end of the most recent reporting period.

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

PENN Entertainment Stock Up 0.2%

Shares of PENN stock traded up $0.03 during trading hours on Wednesday, reaching $15.42. 3,925,224 shares of the company's stock were exchanged, compared to its average volume of 4,097,802. PENN Entertainment, Inc. has a 1 year low of $13.25 and a 1 year high of $23.08. The stock has a market cap of $2.33 billion, a PE ratio of -4.34, a PEG ratio of 1.55 and a beta of 1.81. 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 stock's fifty day moving average price is $15.26 and its two-hundred day moving average price is $18.21.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.04. The company had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.71 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. PENN Entertainment's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business earned ($0.76) EPS. Research analysts predict that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

Insider Transactions at PENN Entertainment

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

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Morgan Stanley dropped their target price on shares of PENN Entertainment from $17.50 to $16.50 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Susquehanna dropped their price objective on shares of PENN Entertainment from $26.00 to $23.00 and set a "positive" rating on the stock in a research note on Tuesday, April 15th. Canaccord Genuity Group reduced their price objective on shares of PENN Entertainment from $28.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Macquarie restated an "outperform" rating and set a $26.00 target price on shares of PENN Entertainment in a report on Friday, February 28th. Finally, Wells Fargo & Company lifted their price target on PENN Entertainment from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $23.10.

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.