PENN Entertainment, Inc. (NASDAQ:PENN) Shares Acquired by LMR Partners LLP

LMR Partners LLP lifted its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 608.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,026 shares of the company’s stock after purchasing an additional 35,239 shares during the quarter. LMR Partners LLP’s holdings in PENN Entertainment were worth $813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc grew its stake in shares of PENN Entertainment by 201.5% during the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after purchasing an additional 1,052 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of PENN Entertainment during the 4th quarter worth $92,000. KBC Group NV grew 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 purchasing an additional 1,470 shares during the period. CIBC Private Wealth Group LLC grew 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 purchasing an additional 5,852 shares during the period. Finally, Sterling Capital Management LLC grew 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 purchasing an additional 3,080 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Stock Performance

PENN Entertainment stock opened at $16.16 on Wednesday. The firm has a market capitalization of $2.44 billion, a P/E ratio of -4.55, a PEG ratio of 1.55 and a beta of 1.81. The stock has a fifty day moving average price of $15.82 and a 200 day moving average price of $18.73. PENN Entertainment, Inc. has a 52 week low of $13.25 and a 52 week 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.

PENN Entertainment (NASDAQ:PENN) 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 firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the business earned ($0.76) earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that PENN Entertainment, Inc. will post -1.61 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PENN shares. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research note on Monday, March 3rd. Wells Fargo & Company upped their price target on shares of PENN Entertainment from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Susquehanna cut their price objective on PENN Entertainment from $26.00 to $23.00 and set a “positive” rating for the company in a research report on Tuesday, April 15th. Canaccord Genuity Group reduced their target price on PENN Entertainment from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, StockNews.com raised PENN Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.91.

About PENN Entertainment

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.