PENN Entertainment, Inc. (NASDAQ:PENN) Shares Bought by Man Group plc

Man Group plc grew its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,398,998 shares of the company’s stock after purchasing an additional 279,726 shares during the quarter. Man Group plc owned approximately 0.92% of PENN Entertainment worth $27,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. M&T Bank Corp raised its holdings in PENN Entertainment by 4.7% during the fourth quarter. M&T Bank Corp now owns 13,044 shares of the company’s stock worth $259,000 after purchasing an additional 584 shares in the last quarter. Westside Investment Management Inc. raised its holdings in PENN Entertainment by 3.2% during the fourth quarter. Westside Investment Management Inc. now owns 19,849 shares of the company’s stock worth $393,000 after purchasing an additional 620 shares in the last quarter. CIBC Asset Management Inc raised its holdings in PENN Entertainment by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 14,774 shares of the company’s stock worth $293,000 after purchasing an additional 813 shares in the last quarter. IFP Advisors Inc raised its holdings in PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company’s stock worth $31,000 after purchasing an additional 1,052 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in PENN Entertainment by 1.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 103,305 shares of the company’s stock worth $2,048,000 after purchasing an additional 1,426 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Stock Down 2.3%

PENN stock opened at $15.81 on Friday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment, Inc. has a 1-year low of $13.25 and a 1-year high of $23.08. The firm has a fifty day moving average price of $15.76 and a two-hundred day moving average price of $18.68. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -4.45, a PEG ratio of 1.55 and a beta of 1.81.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their target price on shares of PENN Entertainment from $17.50 to $16.50 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a report on Monday, March 3rd. Stifel Nicolaus cut their target price on shares of PENN Entertainment from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Needham & Company LLC cut their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Susquehanna cut their target price on shares of PENN Entertainment from $26.00 to $23.00 and set a “positive” rating on the stock in a report on Tuesday, April 15th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $22.91.

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.