PENN Entertainment, Inc. $PENN Stock Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 3.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,749,100 shares of the company’s stock after selling 55,800 shares during the quarter. Hennessy Advisors Inc. owned approximately 1.30% of PENN Entertainment worth $25,624,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nykredit A S acquired a new stake in shares of PENN Entertainment in the second quarter valued at approximately $25,000. Versant Capital Management Inc boosted its stake in PENN Entertainment by 29.6% during the third quarter. Versant Capital Management Inc now owns 3,513 shares of the company’s stock worth $51,000 after buying an additional 803 shares during the last quarter. IFP Advisors Inc boosted its stake in PENN Entertainment by 103.1% during the third quarter. IFP Advisors Inc now owns 3,920 shares of the company’s stock worth $57,000 after buying an additional 1,990 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in PENN Entertainment during the second quarter worth $66,000. Finally, GAMMA Investing LLC grew its holdings in PENN Entertainment by 19.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,506 shares of the company’s stock valued at $118,000 after buying an additional 895 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Price Performance

PENN Entertainment stock opened at $15.89 on Monday. PENN Entertainment, Inc. has a 12-month low of $11.65 and a 12-month high of $22.36. The stock has a market cap of $2.13 billion, a P/E ratio of -2.50, a price-to-earnings-growth ratio of 0.41 and a beta of 1.40. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.79. The company has a fifty day simple moving average of $16.08 and a 200-day simple moving average of $16.78.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, August 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. PENN Entertainment had a positive return on equity of 2.93% and a negative net margin of 12.66%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) earnings per share. Equities analysts expect that PENN Entertainment, Inc. will post 1.20 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on PENN shares. Piper Sandler upgraded PENN Entertainment from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Tuesday, October 13th. Wells Fargo & Company reduced their target price on PENN Entertainment from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Monday, October 19th. JPMorgan Chase & Co. decreased their price target on PENN Entertainment from $27.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 20th. Capital One Financial upgraded PENN Entertainment from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a report on Thursday, July 23rd. Finally, Zacks Research raised PENN Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PENN Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $23.61.

PENN Entertainment Company Profile

PENN Entertainment, Inc is a North American provider of integrated entertainment, gaming and sports betting. The company operates casinos, racetracks and video gaming terminals, offering slot machines, table games, poker, sports wagering, hotel accommodations, restaurants, entertainment venues and other amenities.

PENN’s portfolio includes regional gaming properties operating under brands such as Hollywood Casino, Ameristar, L’Auberge and M Resort. Its land-based operations serve customers across numerous U.S.