Cwm LLC Acquires 6,063 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Cwm LLC grew its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 80.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 13,614 shares of the company’s stock after buying an additional 6,063 shares during the period. Cwm LLC’s holdings in PENN Entertainment were worth $248,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Harbor Investment Advisory LLC purchased a new position in shares of PENN Entertainment in the 4th quarter worth about $32,000. Lindbrook Capital LLC raised its position in shares of PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after purchasing an additional 553 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of PENN Entertainment in the 4th quarter worth about $40,000. Tyler Stone Wealth Management raised its position in shares of PENN Entertainment by 34.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock worth $45,000 after purchasing an additional 500 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of PENN Entertainment in the 3rd quarter worth about $55,000. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Trading Down 1.0 %

NASDAQ PENN opened at $19.83 on Friday. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $29.38. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. The company has a 50-day moving average price of $16.71 and a 200-day moving average price of $19.63.

PENN Entertainment (NASDAQ:PENN) last released its earnings results on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.20). The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. As a group, analysts predict that PENN Entertainment, Inc. will post -1.35 EPS for the current year.

Insider Buying and Selling

In other news, Director David A. Handler bought 40,000 shares of PENN Entertainment stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average cost of $14.94 per share, with a total value of $597,600.00. Following the acquisition, the director now owns 283,450 shares of the company’s stock, valued at approximately $4,234,743. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David A. Handler acquired 20,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of $15.37 per share, with a total value of $307,400.00. Following the acquisition, the director now directly owns 243,450 shares in the company, valued at approximately $3,741,826.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David A. Handler acquired 40,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were bought at an average cost of $14.94 per share, with a total value of $597,600.00. Following the completion of the acquisition, the director now owns 283,450 shares in the company, valued at $4,234,743. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 76,157 shares of company stock valued at $1,154,949. 2.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PENN shares. Craig Hallum raised PENN Entertainment from a “hold” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $30.00 in a research report on Friday. Raymond James initiated coverage on PENN Entertainment in a research report on Tuesday, May 21st. They issued an “outperform” rating and a $20.00 target price for the company. Morgan Stanley boosted their target price on PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Finally, Barclays decreased their target price on PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.10.

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.