Parkside Investments LLC Acquires 35,800 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Parkside Investments LLC increased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 67.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,725 shares of the company’s stock after purchasing an additional 35,800 shares during the quarter. Parkside Investments LLC owned approximately 0.06% of PENN Entertainment worth $2,635,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. bought a new stake in PENN Entertainment during the third quarter valued at $27,000. Stonebridge Capital Advisors LLC bought a new stake in PENN Entertainment during the first quarter valued at $50,000. Emerald Advisers LLC bought a new stake in PENN Entertainment during the third quarter valued at $33,000. Wipfli Financial Advisors LLC bought a new stake in PENN Entertainment during the third quarter valued at $39,000. Finally, Canada Pension Plan Investment Board boosted its position in PENN Entertainment by 44.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,592 shares of the company’s stock valued at $68,000 after acquiring an additional 493 shares during the last quarter. Institutional investors own 84.40% of the company’s stock.

PENN Entertainment Trading Down 0.5 %

NASDAQ:PENN opened at $27.48 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.74 and a current ratio of 1.74. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 1.06 and a beta of 2.22. PENN Entertainment, Inc. has a 52 week low of $25.49 and a 52 week high of $45.41. The firm has a 50-day moving average price of $31.65 and a two-hundred day moving average price of $31.68.

PENN Entertainment (NASDAQ:PENN – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.20). The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. PENN Entertainment had a net margin of 3.47% and a return on equity of 5.98%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. On average, equities analysts expect that PENN Entertainment, Inc. will post 1.44 earnings per share for the current fiscal year.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden sold 163,475 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $30.12, for a total value of $4,923,867.00. Following the completion of the sale, the chief executive officer now owns 604,527 shares in the company, valued at approximately $18,208,353.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Saul Reibstein sold 39,457 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $33.39, for a total transaction of $1,317,469.23. Following the completion of the sale, the director now owns 37,055 shares in the company, valued at approximately $1,237,266.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jay A. Snowden sold 163,475 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $30.12, for a total transaction of $4,923,867.00. Following the sale, the chief executive officer now owns 604,527 shares of the company’s stock, valued at approximately $18,208,353.24. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

PENN has been the topic of a number of research analyst reports. Wells Fargo & Company upped their price target on shares of PENN Entertainment from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 25th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PENN Entertainment from $35.00 to $31.00 in a research report on Friday, February 3rd. StockNews.com initiated coverage on shares of PENN Entertainment in a research report on Thursday. They set a “buy” rating on the stock. Jefferies Financial Group cut shares of PENN Entertainment from a “buy” rating to a “hold” rating and cut their price objective for the stock from $50.00 to $34.00 in a research report on Monday, January 9th. Finally, JMP Securities reissued a “market outperform” rating and set a $45.00 price objective on shares of PENN Entertainment in a research report on Friday, February 3rd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.13.

PENN Entertainment Profile

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PENN Entertainment, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest, Interactive, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.