Strs Ohio Sells 249,247 Shares of PENN Entertainment, Inc. $PENN

Strs Ohio reduced its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 98.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,458 shares of the company’s stock after selling 249,247 shares during the quarter. Strs Ohio’s holdings in PENN Entertainment were worth $51,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Cloud Capital Management LLC bought a new stake in PENN Entertainment in the 3rd quarter valued at $54,000. Triumph Capital Management bought a new position in shares of PENN Entertainment during the 3rd quarter worth about $54,000. Jones Financial Companies Lllp lifted its holdings in shares of PENN Entertainment by 33.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,273 shares of the company’s stock worth $65,000 after acquiring an additional 825 shares during the period. Advisory Services Network LLC acquired a new stake in shares of PENN Entertainment during the 3rd quarter valued at about $122,000. Finally, CWM LLC boosted its position in shares of PENN Entertainment by 89.6% during the 3rd quarter. CWM LLC now owns 7,964 shares of the company’s stock valued at $153,000 after acquiring an additional 3,764 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PENN shares. Wells Fargo & Company increased their price target on shares of PENN Entertainment from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Canaccord Genuity Group decreased their price objective on PENN Entertainment from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Barclays upped their price objective on PENN Entertainment from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Wall Street Zen raised PENN Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Finally, Citigroup raised their target price on PENN Entertainment from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PENN Entertainment currently has a consensus rating of “Hold” and an average price target of $20.29.

PENN Entertainment Trading Down 1.4%

Shares of PENN stock opened at $15.71 on Wednesday. PENN Entertainment, Inc. has a 12-month low of $11.65 and a 12-month high of $20.60. The company has a market capitalization of $2.10 billion, a P/E ratio of -2.34, a P/E/G ratio of 0.52 and a beta of 1.43. The firm has a 50-day moving average price of $15.37 and a 200 day moving average price of $14.70. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.94.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.06. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. PENN Entertainment had a negative net margin of 13.55% and a positive return on equity of 0.44%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. Research analysts forecast that PENN Entertainment, Inc. will post 1 earnings per share for the current fiscal year.

About PENN Entertainment

PENN Entertainment, Inc (NASDAQ: PENN) is a leading operator of gaming and racing facilities in the United States. The company’s business activities encompass land-based casinos, pari-mutuel racetracks, off-track wagering, and ancillary amenities such as hotels, restaurants and entertainment venues. In August 2022, the company rebranded from Penn National Gaming to PENN Entertainment to reflect its expanding footprint across digital and traditional segments of the gaming industry.

The company’s portfolio includes well-known properties under the Hollywood Casino and Ameristar Casino brands, located across multiple states including Pennsylvania, Ohio, Missouri and West Virginia.