PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,347,551 shares of the company’s stock after selling 150,352 shares during the period. Geode Capital Management LLC owned about 1.54% of PENN Entertainment worth $44,287,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Driehaus Capital Management LLC acquired a new stake in PENN Entertainment in the 2nd quarter valued at $4,535,000. Janus Henderson Group PLC grew its position in shares of PENN Entertainment by 244.7% in the third quarter. Janus Henderson Group PLC now owns 249,106 shares of the company’s stock valued at $4,697,000 after purchasing an additional 176,844 shares during the period. Verition Fund Management LLC increased its stake in shares of PENN Entertainment by 367.2% during the third quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock worth $8,543,000 after purchasing an additional 356,029 shares in the last quarter. Quantbot Technologies LP raised its position in shares of PENN Entertainment by 84.7% during the 3rd quarter. Quantbot Technologies LP now owns 208,094 shares of the company’s stock worth $3,925,000 after purchasing an additional 95,423 shares during the last quarter. Finally, Public Sector Pension Investment Board purchased a new position in PENN Entertainment in the 2nd quarter valued at about $6,363,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on PENN shares. Bank of America initiated coverage on PENN Entertainment in a report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 target price for the company. Truist Financial reduced their price objective on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Craig Hallum reaffirmed a “buy” rating and set a $30.00 target price on shares of PENN Entertainment in a research note on Tuesday, October 8th. Mizuho dropped their target price on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Finally, Susquehanna decreased their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a research note on Monday, November 4th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

PENN Entertainment Trading Down 2.6 %

Shares of PENN Entertainment stock opened at $18.13 on Tuesday. The stock has a 50 day moving average of $19.99 and a 200 day moving average of $19.27. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -5.11 and a beta of 2.08. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $27.20.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 EPS. As a group, research analysts predict that PENN Entertainment, Inc. will post -1.55 earnings per share for the current 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.