CIBC Asset Management Inc Has $263,000 Stock Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

CIBC Asset Management Inc reduced its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,961 shares of the company’s stock after selling 618 shares during the quarter. CIBC Asset Management Inc’s holdings in PENN Entertainment were worth $263,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PENN. Driehaus Capital Management LLC acquired a new position in PENN Entertainment during the second quarter worth $4,535,000. Virtu Financial LLC acquired a new stake in shares of PENN Entertainment in the 1st quarter valued at $1,098,000. Cetera Advisors LLC increased its holdings in PENN Entertainment by 184.3% in the 1st quarter. Cetera Advisors LLC now owns 60,708 shares of the company’s stock worth $1,105,000 after purchasing an additional 39,356 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of PENN Entertainment by 300.5% in the first quarter. Axxcess Wealth Management LLC now owns 36,975 shares of the company’s stock worth $673,000 after acquiring an additional 27,743 shares during the period. Finally, Public Sector Pension Investment Board bought a new position in shares of PENN Entertainment during the 2nd quarter worth approximately $6,363,000. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

PENN Entertainment stock opened at $20.52 on Friday. The stock’s 50 day simple moving average is $19.45 and its two-hundred day simple moving average is $18.59. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -5.71 and a beta of 2.09. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $27.20.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.04. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 EPS. As a group, analysts expect that PENN Entertainment, Inc. will post -1.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PENN. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a research report on Friday, November 8th. Wells Fargo & Company lifted their target price on PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Truist Financial decreased their target price on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. Finally, Macquarie upped their price objective on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment currently has an average rating of “Hold” and an average target price of $23.29.

Insider Transactions at PENN Entertainment

In other news, Director David A. Handler purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the purchase, the director now directly owns 293,450 shares in the company, valued at approximately $5,138,309.50. This represents a 3.53 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Anuj Dhanda acquired 15,000 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the purchase, the director now directly owns 31,523 shares in the company, valued at approximately $580,023.20. This trade represents a 90.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 79,200 shares of company stock worth $1,450,548. Corporate insiders own 2.19% of the company’s stock.

PENN Entertainment 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.