Brevan Howard Capital Management LP decreased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 76.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,079 shares of the company's stock after selling 35,288 shares during the quarter. Brevan Howard Capital Management LP's holdings in PENN Entertainment were worth $220,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in PENN. IFP Advisors Inc raised its stake in PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock worth $31,000 after acquiring an additional 1,052 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in PENN Entertainment in the 4th quarter worth $92,000. KBC Group NV raised its stake in PENN Entertainment by 36.5% in the 4th quarter. KBC Group NV now owns 5,501 shares of the company's stock worth $109,000 after acquiring an additional 1,470 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in PENN Entertainment by 914.4% in the 4th 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 during the last quarter. Finally, Sterling Capital Management LLC raised its stake in PENN Entertainment by 51.8% in the 4th quarter. Sterling Capital Management LLC now owns 9,030 shares of the company's stock worth $179,000 after acquiring an additional 3,080 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.
PENN Entertainment Price Performance
NASDAQ:PENN opened at $15.97 on Tuesday. PENN Entertainment, Inc. has a 52 week low of $13.25 and a 52 week high of $23.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a market capitalization of $2.41 billion, a PE ratio of -4.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.81. The stock's 50-day moving average price is $15.88 and its 200-day moving average price is $18.74.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The firm had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.71 billion. During the same period last year, the firm earned ($0.76) EPS. The company's quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities analysts expect that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently issued reports on PENN. StockNews.com upgraded PENN Entertainment from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Mizuho reduced their target price on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Monday. Macquarie restated an "outperform" rating and issued a $26.00 target price on shares of PENN Entertainment in a research note on Friday, February 28th. Canaccord Genuity Group reduced their target price on PENN Entertainment from $28.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Needham & Company LLC reduced their price objective on PENN Entertainment from $26.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $22.91.
View Our Latest Stock Report on PENN
About PENN Entertainment
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding PENN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PENN Entertainment, Inc. (NASDAQ:PENN - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider PENN Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PENN Entertainment wasn't on the list.
While PENN Entertainment currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are hedge funds and endowments buying in today's market? Enter your email address and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying now.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
