PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 8.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 29,174 shares of the company’s stock after selling 2,574 shares during the period. The Manufacturers Life Insurance Company’s holdings in PENN Entertainment were worth $550,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of PENN Entertainment by 18.3% during the 2nd quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock valued at $183,000 after buying an additional 1,555 shares during the last quarter. Raymond James & Associates boosted its position in shares of PENN Entertainment by 81.7% during the second quarter. Raymond James & Associates now owns 155,826 shares of the company’s stock worth $3,016,000 after buying an additional 70,067 shares during the period. Nisa Investment Advisors LLC raised its stake in PENN Entertainment by 7.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 16,745 shares of the company’s stock valued at $324,000 after acquiring an additional 1,215 shares in the last quarter. Consolidated Investment Group LLC lifted its holdings in PENN Entertainment by 42.7% in the second quarter. Consolidated Investment Group LLC now owns 90,300 shares of the company’s stock worth $1,748,000 after purchasing an additional 27,000 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its stake in shares of PENN Entertainment by 6.0% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company’s stock worth $247,000 after acquiring an additional 720 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

NASDAQ PENN opened at $20.79 on Friday. The company has a 50 day moving average price of $19.97 and a two-hundred day moving average price of $19.13. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $27.20. The stock has a market capitalization of $3.17 billion, a PE ratio of -5.86 and a beta of 2.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on PENN. Craig Hallum reissued a “buy” rating and set a $30.00 target price on shares of PENN Entertainment in a report on Tuesday, October 8th. Needham & Company LLC restated a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a report on Friday, November 8th. JPMorgan Chase & Co. raised PENN Entertainment from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $27.00 in a report on Friday. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. Finally, Morgan Stanley lowered their price objective on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.53.

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.