PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 8.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,499 shares of the company’s stock after selling 2,063 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PENN Entertainment were worth $424,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PENN. Northwestern Mutual Wealth Management Co. increased its position in shares of PENN Entertainment by 4,624.5% in 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 buying an additional 1,425,274 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of PENN Entertainment by 1,051.0% during the third quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company’s stock worth $26,809,000 after purchasing an additional 1,297,976 shares in the last quarter. Armistice Capital LLC raised its stake in shares of PENN Entertainment by 91.9% in the second quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock valued at $51,156,000 after acquiring an additional 1,266,023 shares in the last quarter. Long Focus Capital Management LLC purchased a new position in PENN Entertainment in the second quarter worth approximately $11,613,000. Finally, DME Capital Management LP lifted its holdings in PENN Entertainment by 11.9% during the 2nd quarter. DME Capital Management LP now owns 5,095,340 shares of the company’s stock worth $98,620,000 after buying an additional 540,630 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler purchased 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average cost of $17.51 per share, with a total value of $175,100.00. Following the completion of the purchase, the director now owns 293,450 shares in the company, valued at $5,138,309.50. This represents a 3.53 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jay A. Snowden purchased 54,200 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $18.44 per share, with a total value of $999,448.00. Following the completion of the purchase, the chief executive officer now owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. This represents a 6.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 79,200 shares of company stock worth $1,450,548 over the last 90 days. Insiders own 2.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PENN shares. Wells Fargo & Company raised their price target on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Friday, November 8th. Mizuho cut their target price on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. Finally, Bank of America initiated coverage on PENN Entertainment in a report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, PENN Entertainment presently has an average rating of “Hold” and a consensus price target of $23.29.

PENN Entertainment Price Performance

NASDAQ PENN opened at $21.08 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The firm’s 50 day moving average is $19.55 and its 200-day moving average is $18.75. The company has a market capitalization of $3.22 billion, a PE ratio of -5.94 and a beta of 2.09. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $27.20.

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

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.