PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd decreased its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 54.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 23,900 shares of the company's stock after selling 28,828 shares during the period. Point72 Hong Kong Ltd's holdings in PENN Entertainment were worth $474,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. IFP Advisors Inc boosted its position in 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 buying an additional 1,052 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of PENN Entertainment during the 4th quarter worth approximately $92,000. KBC Group NV raised its stake in shares of PENN Entertainment by 36.5% during the 4th quarter. KBC Group NV now owns 5,501 shares of the company's stock worth $109,000 after buying an additional 1,470 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of PENN Entertainment by 914.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock worth $119,000 after buying an additional 5,852 shares during the period. Finally, Sterling Capital Management LLC raised its stake in shares of PENN Entertainment by 51.8% during the 4th quarter. Sterling Capital Management LLC now owns 9,030 shares of the company's stock worth $179,000 after buying an additional 3,080 shares during the period. Hedge funds and other institutional investors own 91.69% of the company's stock.

PENN Entertainment Stock Down 1.6%

PENN stock traded down $0.25 during mid-day trading on Tuesday, reaching $15.20. The company had a trading volume of 2,174,308 shares, compared to its average volume of 4,214,241. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -4.28, a price-to-earnings-growth ratio of 1.55 and a beta of 1.81. The firm has a fifty day simple moving average of $15.72 and a 200 day simple moving average of $18.60. PENN Entertainment, Inc. has a fifty-two week low of $13.25 and a fifty-two week high of $23.08.

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 (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 company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the company earned ($0.76) EPS. PENN Entertainment's revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts forecast that PENN Entertainment, Inc. will post -1.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PENN shares. Macquarie reissued an "outperform" rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, February 28th. Truist Financial reduced their price target on shares of PENN Entertainment from $23.00 to $20.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a research note on Monday. Mizuho decreased their price objective on shares of PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Monday, May 12th. Finally, Stifel Nicolaus decreased their price objective on shares of PENN Entertainment from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Tuesday, March 18th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, PENN Entertainment presently has an average rating of "Hold" and a consensus price target of $22.91.

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.