Northwestern Mutual Wealth Management Co. Has $28.18 Million Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Northwestern Mutual Wealth Management Co. grew its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 4,624.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,456,094 shares of the company’s stock after purchasing an additional 1,425,274 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.96% of PENN Entertainment worth $28,183,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of PENN Entertainment by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,138,297 shares of the company’s stock worth $29,623,000 after acquiring an additional 17,622 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of PENN Entertainment by 12.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,942 shares of the company’s stock worth $363,000 after purchasing an additional 1,522 shares during the period. Corient Private Wealth LLC grew its stake in shares of PENN Entertainment by 16.3% in the fourth quarter. Corient Private Wealth LLC now owns 24,495 shares of the company’s stock worth $637,000 after purchasing an additional 3,425 shares during the last quarter. TFO Wealth Partners LLC raised its position in PENN Entertainment by 123,033.3% during the 4th quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock worth $96,000 after purchasing an additional 3,691 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in PENN Entertainment during the 4th quarter worth about $1,052,000. 91.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price objective on PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Morgan Stanley decreased their target price on PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Macquarie reiterated an “outperform” rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Friday, August 9th. Finally, Barclays increased their target price on PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $23.77.

Insider Activity at PENN Entertainment

In other PENN Entertainment news, Director Anuj Dhanda acquired 15,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $18.40 per share, with a total value of $276,000.00. Following the completion of the acquisition, the director now directly owns 31,523 shares in the company, valued at $580,023.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Anuj Dhanda bought 15,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the transaction, the director now directly owns 31,523 shares in the company, valued at approximately $580,023.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David A. Handler acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the purchase, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 79,200 shares of company stock worth $1,450,548. Insiders own 2.19% of the company’s stock.

PENN Entertainment Stock Down 2.2 %

Shares of NASDAQ:PENN opened at $18.86 on Tuesday. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $27.20. The company has a market capitalization of $2.88 billion, a PE ratio of -2.53 and a beta of 2.10. The business has a fifty day moving average price of $18.90 and a two-hundred day moving average price of $17.99. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. The business had revenue of $1.66 billion during 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%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 earnings per share. Analysts forecast that PENN Entertainment, Inc. will post -1.32 earnings per share for the current year.

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.