Cwm LLC Sells 1,478 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Cwm LLC decreased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 13.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,452 shares of the company’s stock after selling 1,478 shares during the period. Cwm LLC’s holdings in PENN Entertainment were worth $178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PENN. Northwestern Mutual Wealth Management Co. grew its position in shares of PENN Entertainment by 4,624.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock valued at $28,183,000 after purchasing an additional 1,425,274 shares in the last quarter. Armistice Capital LLC raised its holdings in PENN Entertainment by 91.9% during the 2nd quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock valued at $51,156,000 after buying an additional 1,266,023 shares during the period. Invenomic Capital Management LP raised its position in PENN Entertainment by 71.9% in the 1st quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock worth $34,313,000 after purchasing an additional 787,968 shares during the period. National Bank of Canada FI grew its holdings in shares of PENN Entertainment by 284.6% in the first quarter. National Bank of Canada FI now owns 968,514 shares of the company’s stock worth $17,637,000 after purchasing an additional 716,686 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of PENN Entertainment during the fourth quarter valued at approximately $16,341,000. 91.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PENN. Craig Hallum reissued a “buy” rating and issued a $30.00 price objective on shares of PENN Entertainment in a research note on Tuesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Tuesday, October 8th. Mizuho cut their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday. Macquarie reiterated an “outperform” rating and issued a $26.00 target price on shares of PENN Entertainment in a research note on Friday, August 9th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.96.

PENN Entertainment Stock Performance

Shares of PENN Entertainment stock opened at $18.62 on Thursday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. The business’s 50 day moving average price is $18.92 and its 200 day moving average price is $18.10. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -2.50 and a beta of 2.10. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $27.20.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. PENN Entertainment’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. On average, research analysts predict that PENN Entertainment, Inc. will post -1.37 EPS for the current year.

Insider Activity at PENN Entertainment

In other PENN Entertainment news, Director Anuj Dhanda bought 15,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the purchase, the director now directly owns 31,523 shares in the company, valued at $580,023.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Anuj Dhanda bought 15,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the transaction, the director now directly owns 31,523 shares of the company’s stock, valued at $580,023.20. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay A. Snowden bought 54,200 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $18.44 per share, with a total value of $999,448.00. Following the purchase, the chief executive officer now owns 853,045 shares of the company’s stock, valued at $15,730,149.80. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 79,200 shares of company stock worth $1,450,548. Insiders own 2.19% of the company’s stock.

PENN Entertainment Company 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.