Prospera Financial Services Inc Purchases New Holdings in PENN Entertainment, Inc. $PENN

Prospera Financial Services Inc acquired a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 28,681 shares of the company’s stock, valued at approximately $512,000.

A number of other hedge funds have also recently bought and sold shares of PENN. Parallel Advisors LLC raised its position in shares of PENN Entertainment by 152.2% during the second quarter. Parallel Advisors LLC now owns 1,397 shares of the company’s stock worth $25,000 after acquiring an additional 843 shares during the last quarter. Quarry LP bought a new stake in PENN Entertainment during the 1st quarter worth about $30,000. State of Wyoming acquired a new position in PENN Entertainment during the 1st quarter valued at about $46,000. Ancora Advisors LLC boosted its stake in shares of PENN Entertainment by 208.8% in the 1st quarter. Ancora Advisors LLC now owns 6,855 shares of the company’s stock valued at $112,000 after purchasing an additional 4,635 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of PENN Entertainment by 1,371.6% during the 1st quarter. Signaturefd LLC now owns 7,211 shares of the company’s stock worth $118,000 after buying an additional 6,721 shares during the period. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Down 1.4%

PENN stock opened at $14.60 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 2.39. The business has a 50 day moving average price of $17.73 and a two-hundred day moving average price of $17.46. PENN Entertainment, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -26.07 and a beta of 1.53.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) earnings per share. Analysts anticipate that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jay A. Snowden bought 34,700 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $14.32 per share, with a total value of $496,904.00. Following the completion of the acquisition, the chief executive officer owned 1,117,325 shares of the company’s stock, valued at $16,000,094. The trade was a 3.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.67% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup reaffirmed an “outperform” rating on shares of PENN Entertainment in a research note on Friday, August 8th. JMP Securities raised their price target on PENN Entertainment from $24.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, August 8th. Barclays decreased their price objective on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of PENN Entertainment in a research note on Wednesday, November 5th. Finally, Wall Street Zen lowered PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.60.

PENN Entertainment 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.