National Bank of Canada FI Boosts Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

National Bank of Canada FI increased its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 5,950.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 251,828 shares of the company’s stock after purchasing an additional 247,666 shares during the quarter. National Bank of Canada FI’s holdings in PENN Entertainment were worth $6,535,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PENN. Kettle Hill Capital Management LLC acquired a new position in PENN Entertainment in the 3rd quarter valued at about $19,792,000. Assenagon Asset Management S.A. raised its stake in PENN Entertainment by 443.6% in the third quarter. Assenagon Asset Management S.A. now owns 714,900 shares of the company’s stock valued at $16,407,000 after buying an additional 583,388 shares in the last quarter. Earnest Partners LLC lifted its stake in PENN Entertainment by 11.1% during the third quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock worth $62,380,000 after purchasing an additional 271,254 shares during the last quarter. Sei Investments Co. lifted its position in shares of PENN Entertainment by 13.9% during the 3rd quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock worth $31,510,000 after buying an additional 167,445 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in PENN Entertainment by 112.4% in the third quarter. Envestnet Asset Management Inc. now owns 250,172 shares of the company’s stock valued at $5,741,000 after acquiring an additional 132,392 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Activity at PENN Entertainment

In other news, Director David A. Handler bought 20,000 shares of PENN Entertainment stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the acquisition, the director now owns 243,450 shares in the company, valued at $3,741,826.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PENN Entertainment news, CFO Felicia Hendrix purchased 16,157 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were purchased at an average cost of $15.47 per share, with a total value of $249,948.79. Following the purchase, the chief financial officer now owns 68,596 shares in the company, valued at $1,061,180.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Handler acquired 20,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $15.37 per share, with a total value of $307,400.00. Following the purchase, the director now owns 243,450 shares in the company, valued at $3,741,826.50. The disclosure for this purchase can be found here. 1.80% of the stock is owned by corporate insiders.

PENN Entertainment Stock Up 3.7 %

PENN Entertainment stock opened at $16.24 on Friday. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -2.18 and a beta of 2.06. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $29.38. The stock’s fifty day moving average is $17.29 and its two-hundred day moving average is $21.03.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Analysts predict that PENN Entertainment, Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on PENN shares. Mizuho lifted their price target on PENN Entertainment from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Craig Hallum dropped their price objective on shares of PENN Entertainment from $25.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. StockNews.com lowered PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Morgan Stanley lifted their target price on PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Macquarie decreased their price target on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, PENN Entertainment presently has a consensus rating of “Hold” and a consensus target price of $25.92.

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.