Parkside Investments LLC Acquires 35,800 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)
Parkside Investments LLC increased its stake in PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 67.6% in the fourth quarter, the company said in its most recent filing with the Securities & Exchange Commission. The fund owned 88,725 shares of the company after purchasing an additional 35,800 shares during the quarter. Parkside Investments LLC owned approximately 0.06% of PENN Entertainment valued at $2,635,000 at the end of the most recent reporting period.
→ Unusual passive income investment (found on a golf course) (from the Oxford Club)
Other institutional investors have also recently changed their holdings in the company. SJS Investment Consulting Inc. acquired a $27,000 new interest in PENN Entertainment during the third quarter. Stonebridge Capital Advisors LLC acquired a new $50,000 stake in PENN Entertainment during the first quarter. Emerald Advisers LLC acquired a $33,000 new interest in PENN Entertainment during the third quarter. Wipfli Financial Advisors LLC acquired a new $39,000 stake in PENN Entertainment during the third quarter. Finally, the Canada Pension Plan Investment Board increased its position in PENN Entertainment by 44.9% in the first quarter. The Canada Pension Plan Investment Board now owns 1,592 shares of the company, valued at $68,000, after purchasing an additional 493 shares last quarter. Institutional investors own 84.40% of the company’s shares.
PENN Entertainment is down 0.5%
NASDAQ:PENN opened at $27.48 on Friday. The company has a debt to equity ratio of 1.87, a quick ratio of 1.74 and a current ratio of 1.74. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-to-growth ratio of 1.06 and a beta of 2.22. PENN Entertainment, Inc. has a 52-week low of $25.49 and a 52-week high of $45.41. The company has a 50-day moving average price of $31.65 and a 200-day moving average price of $31.68.
PENN Entertainment (NASDAQ:PENN – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.13 per share for the quarter, missing the consensus estimate of $0.33 to ($0.20). The company made $1.59 billion in revenue for the quarter, compared to analysts’ expectations of $1.58 billion. PENN Entertainment had a net margin of 3.47% and a return on equity of 5.98%. The company’s quarterly revenue rose 0.8% year over year. In the same quarter last year, the company posted $0.26 per share. On average, equity analysts expect PENN Entertainment, Inc. to report earnings per share of 1.44 for the current fiscal year.
Insider buys and sells at PENN Entertainment
In other news from PENN Entertainment, CEO Jay A. Snowden sold 163,475 shares of the stock in a transaction on Tuesday, December 27th. The shares sold at an average price of $30.12 for a total value of $4,923,867.00. Upon completion of the sale, the Chief Executive Officer now owns 604,527 shares of the Company, valued at approximately $18,208,353.24. The transaction was disclosed in a document filed with the SEC, available at this link. In other news, director Saul Reibstein sold 39,457 shares of the company’s stock in a transaction that took place on Monday, February 6th. The shares were sold at an average price of $33.39 for a total transaction of $1,317,469.23. Upon completion of the sale, the Director now owns 37,055 shares of the Company, valued at approximately $1,237,266.45. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. Also, CEO Jay A. Snowden sold 163,475 shares of the company’s stock in a transaction that took place on Tuesday, December 27th. The stock sold at an average price of $30.12 for a total transaction of $4,923,867.00. Following the sale, the Chief Executive Officer now owns 604,527 shares of the Company, valued at approximately $18,208,353.24. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Wall Street analysts forecast growth
PENN has been the subject of a number of research analyst reports. Wells Fargo & Company increased its price target for shares of PENN Entertainment from $32.00 to $33.00 and rated the company as “equal weight” in a research report on Wednesday, January 25. Deutsche Bank Aktiengesellschaft lowered its price target for shares of PENN Entertainment from USD 35.00 to USD 31.00 in a research report on Friday, February 3rd. StockNews.com began coverage of PENN Entertainment shares in a research report Thursday. They give the stock a “buy” rating. Jefferies Financial Group lowered shares of PENN Entertainment from a “buy” rating to a “hold” rating and lowered its price target on the stock to $34.00 from $50.00 in a research report on Monday, May 22 January 9th. Finally, JMP Securities again issued a market outperform rating and price target of $45.00 on PENN Entertainment shares in a research report on Friday, February 3rd. Six investment analysts have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $40.13.
PENN Entertainment Profile (Get Rating)
PENN Entertainment, Inc owns and manages gaming and racing facilities and video game terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest, Interactive and Other. The Northeast segment consists of properties such as the Ameristar East Chicago, the Greektown Casino-Hotel and the Hollywood Casino Bangor.
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