PENN Entertainment, Inc. (NASDAQ:PENN) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 33.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,587 shares of the company's stock after buying an additional 65,596 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.17% of PENN Entertainment worth $5,244,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PENN. Proficio Capital Partners LLC acquired a new stake in PENN Entertainment in the 4th quarter valued at about $596,000. Raymond James Financial Inc. purchased a new stake in shares of PENN Entertainment in the fourth quarter valued at about $17,804,000. ING Groep NV purchased a new stake in shares of PENN Entertainment in the fourth quarter valued at about $9,910,000. IFP Advisors Inc grew its position 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 valued at $31,000 after purchasing an additional 1,052 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PENN Entertainment by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,337,162 shares of the company's stock worth $26,503,000 after purchasing an additional 55,138 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

PENN Entertainment Trading Down 0.6%

Shares of PENN traded down $0.09 during mid-day trading on Friday, hitting $15.59. The company had a trading volume of 4,466,063 shares, compared to its average volume of 4,075,434. PENN Entertainment, Inc. has a 1-year low of $13.25 and a 1-year high of $23.08. The business's 50-day simple moving average is $15.21 and its 200-day simple moving average is $18.16. The stock has a market cap of $2.35 billion, a PE ratio of -4.39, a P/E/G ratio of 1.55 and a beta of 1.56. 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 (NASDAQ:PENN - Get Free Report) last posted its quarterly 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 net margin of 8.51% and a negative return on equity of 14.44%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm posted ($0.76) earnings per share. PENN Entertainment's revenue was up 4.1% on a year-over-year basis. Sell-side analysts forecast that PENN Entertainment, Inc. will post -1.61 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David A. Handler bought 10,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was acquired 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 of the company's stock, valued at $4,789,215.03. This trade represents a 3.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jay A. Snowden bought 34,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $14.70 per share, with a total value of $499,800.00. Following the transaction, the chief executive officer now owns 1,082,625 shares in the company, valued at approximately $15,914,587.50. This represents a 3.24% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PENN. Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a research note on Monday, May 19th. Wall Street Zen upgraded PENN Entertainment from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Mizuho dropped their price objective on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a research report on Monday, May 12th. Susquehanna cut their target price on shares of PENN Entertainment from $26.00 to $23.00 and set a "positive" rating for the company in a research note on Tuesday, April 15th. Finally, Canaccord Genuity Group decreased their price target on shares of PENN Entertainment from $28.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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.