Assenagon Asset Management S.A. Sells 1,246,750 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Assenagon Asset Management S.A. trimmed its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 87.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 174,721 shares of the company’s stock after selling 1,246,750 shares during the quarter. Assenagon Asset Management S.A. owned 0.11% of PENN Entertainment worth $3,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in PENN Entertainment by 62.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 434,571 shares of the company’s stock valued at $8,411,000 after purchasing an additional 167,164 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of PENN Entertainment by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,299,014 shares of the company’s stock valued at $25,140,000 after buying an additional 30,932 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in PENN Entertainment by 51.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,492 shares of the company’s stock worth $300,000 after buying an additional 5,239 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in PENN Entertainment during the second quarter valued at about $5,489,000. Finally, Thrivent Financial for Lutherans raised its holdings in PENN Entertainment by 232.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 124,058 shares of the company’s stock valued at $2,401,000 after acquiring an additional 86,721 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Price Performance

Shares of PENN stock opened at $20.65 on Wednesday. The stock’s fifty day moving average is $19.93 and its 200-day moving average is $19.38. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $24.57. The stock has a market capitalization of $3.15 billion, a PE ratio of -5.82, a PEG ratio of 1.46 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data 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. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company posted $1.21 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts expect that PENN Entertainment, Inc. will post -1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PENN. Macquarie lifted their price objective on PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Wells Fargo & Company lifted their price target on shares of 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 restated a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 8th. Truist Financial decreased their target price on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, PENN Entertainment presently has an average rating of “Hold” and a consensus price target of $23.44.

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.