Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in PENN Entertainment, purchasing 16,400 shares valued at approximately $267,000.
• Several institutional investors have increased their positions in PENN, with CIBC Private Wealth Group LLC boosting its holdings by an impressive 914.4%.
• PENN Entertainment has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a target price of $23.18.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,400 shares of the company's stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC grew its stake in PENN Entertainment by 38.7% during the first quarter. GAMMA Investing LLC now owns 2,636 shares of the company's stock worth $43,000 after purchasing an additional 736 shares during the period. Byrne Asset Management LLC boosted its holdings in PENN Entertainment by 201.1% in the first quarter. Byrne Asset Management LLC now owns 2,710 shares of the company's stock worth $44,000 after acquiring an additional 1,810 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in PENN Entertainment by 914.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock worth $119,000 after acquiring an additional 5,852 shares in the last quarter. Signaturefd LLC boosted its holdings in PENN Entertainment by 1,371.6% in the first quarter. Signaturefd LLC now owns 7,211 shares of the company's stock worth $118,000 after acquiring an additional 6,721 shares in the last quarter. Finally, KBC Group NV boosted 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 worth $128,000 after acquiring an additional 2,323 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PENN shares. JMP Securities upgraded PENN Entertainment from a "market perform" rating to a "market outperform" rating and set a $24.00 price target on the stock in a report on Thursday, June 26th. Morgan Stanley restated a "sell" rating on shares of PENN Entertainment in a report on Friday, July 11th. Susquehanna restated a "positive" rating and issued a $25.00 target price (up previously from $24.00) on shares of PENN Entertainment in a report on Tuesday, June 10th. Stifel Nicolaus raised their target price on PENN Entertainment from $17.00 to $19.00 and gave the company a "hold" rating in a report on Friday, July 11th. Finally, Citigroup raised PENN Entertainment to an "outperform" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, PENN Entertainment currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.18.

Insider Buying and Selling

In other PENN Entertainment news, CEO Jay A. Snowden acquired 34,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average cost of $14.70 per share, for a total transaction of $499,800.00. Following the transaction, the chief executive officer owned 1,082,625 shares in the company, valued at $15,914,587.50. This represents a 3.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Handler acquired 10,000 shares of the business'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 completion of the transaction, the director owned 322,941 shares in the company, valued at approximately $4,789,215.03. The trade was a 3.20% increase in their position. The disclosure for this purchase can be found here. 2.67% of the stock is owned by insiders.

PENN Entertainment Price Performance

PENN stock traded down $0.26 during mid-day trading on Tuesday, hitting $17.39. 3,187,061 shares of the stock were exchanged, compared to its average volume of 3,740,391. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.74 and a quick ratio of 0.74. The business has a fifty day moving average price of $17.35 and a 200 day moving average price of $17.53. PENN Entertainment, Inc. has a 12 month low of $13.25 and a 12 month high of $23.08. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -28.05 and a beta of 1.60.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. PENN Entertainment had a negative return on equity of 5.75% and a negative net margin of 1.28%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company posted ($0.76) earnings per share. The company's revenue was up 4.1% compared to the same quarter last year. On average, sell-side 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.