Rakuten Securities Inc. Makes New Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

Rakuten Securities Inc. acquired a new stake in PENN Entertainment, Inc. (NASDAQ:PENN) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 3,013 shares of the company’s stock, valued at approximately $78,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PENN. International Assets Investment Management LLC purchased a new position in PENN Entertainment during the 3rd quarter valued at about $29,000. Huntington National Bank increased its stake in shares of PENN Entertainment by 324.8% during the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after buying an additional 1,072 shares during the period. Harbor Investment Advisory LLC purchased a new position in shares of PENN Entertainment during the fourth quarter valued at approximately $32,000. Quarry LP raised its holdings in shares of PENN Entertainment by 95.1% during the second quarter. Quarry LP now owns 1,383 shares of the company’s stock valued at $33,000 after acquiring an additional 674 shares in the last quarter. Finally, Tyler Stone Wealth Management purchased a new stake in PENN Entertainment in the second quarter worth $35,000. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Stock Down 1.7 %

Shares of PENN Entertainment stock opened at $16.26 on Thursday. The company has a 50-day simple moving average of $18.24 and a two-hundred day simple moving average of $21.54. PENN Entertainment, Inc. has a 52-week low of $15.88 and a 52-week high of $31.63. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $2.48 billion, a PE ratio of -4.47 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.54 billion. PENN Entertainment had a negative net margin of 7.70% and a positive return on equity of 1.31%. On average, analysts anticipate that PENN Entertainment, Inc. will post -0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PENN. Truist Financial reduced their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Stifel Nicolaus reduced their price target on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Benchmark started coverage on PENN Entertainment in a research report on Tuesday. They set a “hold” rating on the stock. Finally, Mizuho initiated coverage on PENN Entertainment in a research report on Tuesday, March 26th. They issued a “buy” rating and a $29.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.47.

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.