Pathstone Holdings LLC Lowers Stock Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Pathstone Holdings LLC decreased its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 3.6% during the fourth quarter, HoldingsChannel reports. The firm owned 379,937 shares of the company’s stock after selling 14,307 shares during the period. Pathstone Holdings LLC’s holdings in PENN Entertainment were worth $7,530,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PENN. Contrarius Group Holdings Ltd purchased a new stake in PENN Entertainment during the fourth quarter valued at about $34,994,000. Norges Bank purchased a new position in shares of PENN Entertainment in the fourth quarter worth about $27,901,000. SG Americas Securities LLC purchased a new position in shares of PENN Entertainment in the fourth quarter worth about $27,805,000. Raymond James Financial Inc. purchased a new position in shares of PENN Entertainment in the fourth quarter worth about $17,804,000. Finally, Invesco Ltd. increased its holdings in shares of PENN Entertainment by 28.0% in the fourth quarter. Invesco Ltd. now owns 3,882,009 shares of the company’s stock worth $76,941,000 after buying an additional 848,066 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PENN shares. Canaccord Genuity Group decreased their price objective on PENN Entertainment from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Truist Financial reduced their price target on PENN Entertainment from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley reduced their price target on PENN Entertainment from $17.50 to $16.50 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Mizuho reduced their price target on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Monday, May 12th. Finally, StockNews.com upgraded PENN Entertainment from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.91.

PENN Entertainment Stock Performance

PENN stock opened at $16.01 on Friday. The stock has a market capitalization of $2.42 billion, a PE ratio of -4.51, a price-to-earnings-growth ratio of 1.55 and a beta of 1.81. PENN Entertainment, Inc. has a 12-month low of $13.25 and a 12-month high of $23.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock’s 50 day simple moving average is $15.75 and its 200 day simple moving average is $18.65.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.71 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.76) EPS. As a group, research analysts forecast that PENN Entertainment, Inc. will post -1.61 earnings per share for the current fiscal 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.