Phocas Financial Corp. Sells 60,136 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Phocas Financial Corp. reduced its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 29.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,130 shares of the company's stock after selling 60,136 shares during the period. Phocas Financial Corp. owned 0.09% of PENN Entertainment worth $3,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Earnest Partners LLC grew its stake in PENN Entertainment by 11.1% in the 3rd quarter. Earnest Partners LLC now owns 2,718,095 shares of the company's stock worth $62,380,000 after acquiring an additional 271,254 shares during the period. Geode Capital Management LLC grew its stake in PENN Entertainment by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 2,321,981 shares of the company's stock worth $68,870,000 after acquiring an additional 50,999 shares during the period. Norges Bank purchased a new stake in PENN Entertainment in the 4th quarter worth approximately $59,504,000. Charles Schwab Investment Management Inc. grew its stake in PENN Entertainment by 5.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,882,461 shares of the company's stock worth $79,854,000 after acquiring an additional 97,988 shares during the period. Finally, Renaissance Technologies LLC grew its stake in PENN Entertainment by 79.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,789,038 shares of the company's stock worth $75,891,000 after acquiring an additional 791,500 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on PENN shares. Stifel Nicolaus lowered their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a "hold" rating for the company in a research note on Friday, February 16th. Truist Financial lowered their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a "hold" rating for the company in a research note on Friday, February 16th. Needham & Company LLC lowered their price objective on shares of PENN Entertainment from $33.00 to $32.00 and set a "buy" rating for the company in a research note on Friday, February 16th. Mizuho started coverage on shares of PENN Entertainment in a research note on Tuesday, March 26th. They set a "buy" rating and a $29.00 price objective for the company. Finally, Macquarie lowered their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, PENN Entertainment has an average rating of "Hold" and an average target price of $31.38.

PENN Entertainment Stock Down 2.5 %

PENN stock traded down $0.42 during trading on Monday, reaching $16.28. The stock had a trading volume of 3,672,903 shares, compared to its average volume of 5,621,378. PENN Entertainment, Inc. has a 1-year low of $16.10 and a 1-year high of $31.63. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $2.48 billion, a P/E ratio of -4.47 and a beta of 2.06. The firm has a fifty day moving average price of $18.57 and a 200 day moving average price of $21.67.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts' consensus estimates of ($0.57) by ($1.18). The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a positive return on equity of 1.31% and a negative net margin of 7.70%. On average, equities analysts anticipate that PENN Entertainment, Inc. will post -0.86 earnings per share 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.