Acorn Financial Advisory Services Inc. ADV Sells 1,857 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Acorn Financial Advisory Services Inc. ADV lowered its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 2.1% during the third quarter, Holdings Channel.com reports. The fund owned 88,219 shares of the company’s stock after selling 1,857 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in PENN Entertainment were worth $1,664,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in 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 in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in PENN Entertainment in the 3rd quarter valued at $45,000. International Assets Investment Management LLC increased its holdings in shares of PENN Entertainment by 1,634.8% in the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock valued at $61,000 after purchasing an additional 3,057 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of PENN Entertainment during the 2nd quarter worth about $83,000. Finally, Quarry LP boosted its holdings in shares of PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after buying an additional 1,862 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PENN. Truist Financial cut their price objective on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday. Susquehanna cut their price target on PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research note on Monday, November 4th. Barclays lowered their price objective on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, PENN Entertainment currently has an average rating of “Hold” and a consensus target price of $22.96.

PENN Entertainment Trading Up 1.3 %

Shares of PENN stock traded up $0.27 on Friday, hitting $20.49. The company had a trading volume of 3,870,106 shares, compared to its average volume of 5,122,848. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $27.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $3.13 billion, a P/E ratio of -2.53 and a beta of 2.09. The stock’s 50-day moving average is $19.02 and its two-hundred day moving average is $18.34.

PENN Entertainment (NASDAQ:PENN) last released its quarterly 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. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business earned $1.21 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that PENN Entertainment, Inc. will post -1.41 earnings per share for the current fiscal year.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, Director Anuj Dhanda purchased 15,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $18.40 per share, with a total value of $276,000.00. Following the completion of the purchase, the director now owns 31,523 shares in the company, valued at $580,023.20. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other PENN Entertainment news, CEO Jay A. Snowden acquired 54,200 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the acquisition, the chief executive officer now owns 853,045 shares in the company, valued at approximately $15,730,149.80. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anuj Dhanda acquired 15,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the purchase, the director now directly owns 31,523 shares of the company’s stock, valued at approximately $580,023.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 79,200 shares of company stock valued at $1,450,548. 2.19% of the stock is currently owned by insiders.

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.