Edgestream Partners L.P. Has $1.87 Million Stock Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Edgestream Partners L.P. lowered its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 20.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 99,270 shares of the company’s stock after selling 25,214 shares during the period. Edgestream Partners L.P.’s holdings in PENN Entertainment were worth $1,872,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of PENN Entertainment by 233.6% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after acquiring an additional 1,009 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in PENN Entertainment during the 3rd quarter worth approximately $45,000. Quest Partners LLC bought a new stake in PENN Entertainment in the 3rd quarter valued at $56,000. International Assets Investment Management LLC grew its holdings in PENN Entertainment by 1,634.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after buying an additional 3,057 shares in the last quarter. Finally, J.Safra Asset Management Corp bought a new position in PENN Entertainment during the 2nd quarter worth $83,000. 91.69% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Anuj Dhanda acquired 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the acquisition, the director now directly owns 31,523 shares in the company, valued at approximately $580,023.20. The trade was a 90.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David A. Handler acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the transaction, the director now owns 293,450 shares of the company’s stock, valued at $5,138,309.50. This trade represents a 3.53 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.19% of the company’s stock.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $21.51 on Wednesday. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $27.20. The firm has a market cap of $3.28 billion, a P/E ratio of -6.06 and a beta of 2.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The company’s 50 day moving average is $19.71 and its 200-day moving average is $18.93.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.04. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 earnings per share. Sell-side analysts predict that PENN Entertainment, Inc. will post -1.53 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research note on Friday, October 4th. Stifel Nicolaus lifted their price target on shares of PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Macquarie increased their price target on PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft upped their target price on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.29.

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.