Thrivent Financial for Lutherans Reduces Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Thrivent Financial for Lutherans trimmed its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,471 shares of the company’s stock after selling 6,587 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of PENN Entertainment worth $2,216,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after purchasing an additional 1,009 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of PENN Entertainment during the 3rd quarter worth approximately $45,000. International Assets Investment Management LLC increased its stake in shares of PENN Entertainment by 1,634.8% during the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after purchasing an additional 3,057 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in shares of PENN Entertainment during the 2nd quarter worth approximately $83,000. Finally, Quarry LP increased its stake in shares of PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after purchasing an additional 1,862 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PENN Entertainment

In other news, CEO Jay A. Snowden acquired 54,200 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the acquisition, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at $15,730,149.80. This represents a 6.78 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Handler acquired 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the acquisition, the director now directly 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 disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 79,200 shares of company stock worth $1,450,548. 2.19% of the stock is currently owned by corporate insiders.

PENN Entertainment Stock Down 1.0 %

Shares of 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 stock has a market capitalization of $3.22 billion, a PE ratio of -5.94 and a beta of 2.09. The firm has a fifty day moving average of $19.55 and a 200-day moving average of $18.75. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $27.20.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.04. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $1.21 EPS. On average, analysts anticipate that PENN Entertainment, Inc. will post -1.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PENN shares. Mizuho dropped their price objective 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. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th. Macquarie lifted their target price on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research note on Friday, October 4th. Finally, Barclays lowered their target price on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued 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 a consensus target price of $23.29.

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.