Campbell Capital Management Inc. reduced its stake in PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 17.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The company owned 101,680 shares of the company’s stock after selling 21,000 shares during the quarter. PENN Entertainment accounts for about 3.1% of Campbell Capital Management Inc.’s portfolio, making the stock the ninth-largest holding. Campbell Capital Management Inc. owned approximately 0.07% of PENN Entertainment for $3,020,000 at the time of its most recent filing with the Securities & Exchange Commission.
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Several other institutional investors and hedge funds have also changed their stock holdings. Focused Wealth Management Inc increased its stake in PENN Entertainment by 3.7% in the third quarter. Focused Wealth Management Inc now owns 9,697 shares of the company’s stock valued at $267,000 after purchasing an additional 345 shares during the period. Guggenheim Capital LLC increased its stake in PENN Entertainment by 1.1% in the first quarter. Guggenheim Capital LLC now owns 39,364 shares of the company’s stock valued at $1,670,000 after purchasing an additional 431 shares during the period. Franklin Resources Inc. increased its stake in PENN Entertainment by 2.8% during the second quarter. Franklin Resources Inc. now owns 16,314 shares of the company’s stock valued at $496,000 after purchasing an additional 447 shares during the period. Commerce Bank increased its stake in PENN Entertainment by 4.3% in the third quarter. Commerce Bank now owns 11,572 shares of the company’s stock valued at $318,000 after purchasing an additional 481 shares during the period. Finally, the Canada Pension Plan Investment Board increased its stake in PENN Entertainment by 44.9% during 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 during the period. Institutional investors and hedge funds own 84.40% of the company’s shares.
Insider buying and selling
In related news, CEO Jay A. Snowden sold 163,475 shares of the stock in a transaction that took place on Tuesday, December 27th. The stock sold at an average price of $30.12 for a total value of $4,923,867.00. Upon completion of the transaction, the Chief Executive Officer now directly owns 604,527 shares of the Company, valued at $18,208,353.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. Also on Tuesday, December 27, CEO Jay A. Snowden sold 163,475 shares of the company’s shares in a transaction. The stock sold at an average price of $30.12 for a total transaction of $4,923,867.00. Upon completion of the transaction, the Chief Executive Officer now directly owns 604,527 shares of the Company, valued at $18,208,353.24. The transaction was disclosed in a document filed with the SEC, available at this link. Also on Monday, February 6, Director Saul Reibstein sold 39,457 shares of the company’s stock in a transaction. The stock sold at an average price of $33.39 for a total value of $1,317,469.23. Following the transaction, the Director now owns 37,055 shares of the Company, valued at $1,237,266.45. The disclosure for this sale can be found here. 1.50% of the shares are currently owned by company insiders.
Changes in analyst ratings
A number of equity analysts recently rated PENN stock. Deutsche Bank Aktiengesellschaft lowered its price target on PENN Entertainment from $35.00 to $31.00 in a report on Friday, February 3. JPMorgan Chase & Co. downgraded PENN Entertainment from an “overweight” rating to a “neutral” rating and increased its price target on the company to $39.00 from $38.00 in a report Monday, November 28 . Bank of America lowered its target price on PENN Entertainment from $40.00 to $35.00 in a report on Wednesday, January 4th. Stifel Nicolaus lowered PENN Entertainment’s rating from a “buy” to a “hold” rating and lowered the price target on the company to $35.00 from $45.00 in a report on Friday, January 6th. Finally, in a report on Friday, February 3, JMP Securities again issued a “Market Outperform” rating and set a price target of $45.00 on PENN Entertainment shares. Six equities research 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 company currently has an average rating of Moderate Buy and an average target price of $40.13.
PENN Entertainment is down 1.6%
Shares of PENN Entertainment fell $0.43 midday Friday to hit $27.19. The company’s shares had a trading volume of 957,180 shares compared to an average volume of 2,221,721. The company has a market cap of $4.15 billion, a P/E of 21.41, a price-to-earnings-to-growth ratio of 1.03 and a beta of 2.22. PENN Entertainment, Inc. has a 1 year low of $25.49 and a 1 year high of $45.41. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 1.87. The stock’s 50-day moving average is $31.70 and its 200-day moving average is $31.72.
PENN Entertainment (NASDAQ:PENN – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported earnings per share of $0.13 for the quarter, missing the consensus estimate of $0.33 ($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 return on equity of 5.98% and a net margin of 3.47%. The company’s revenue rose 0.8% year over year. In the same quarter last year, the company reported earnings per share of $0.26. On average, analysts expect PENN Entertainment, Inc. to post 1.44 EPS for the current year.
Company Profile of PENN Entertainment (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.
Further reading
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