PENN Entertainment, Inc. (NASDAQ:PENN) Stock Holdings Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 117,471 shares of the company’s stock after selling 6,587 shares during the period. Thrivent Financial for Lutherans’ holdings in PENN Entertainment were worth $2,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PENN. GAMMA Investing LLC increased its position in shares of PENN Entertainment by 233.6% in 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 during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of PENN Entertainment during the 3rd quarter valued at about $45,000. International Assets Investment Management LLC grew its position 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 valued at $61,000 after buying an additional 3,057 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in shares of PENN Entertainment during the 2nd quarter valued at about $83,000. Finally, Quarry LP grew its position in shares of PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after buying an additional 1,862 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

PENN Entertainment Stock Down 1.0 %

Shares of NASDAQ PENN opened at $21.08 on Thursday. The stock has a market cap of $3.22 billion, a PE ratio of -5.94 and a beta of 2.09. The business has a fifty day moving average of $19.55 and a two-hundred 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. 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 (NASDAQ:PENN) last issued its quarterly earnings data 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 return on equity of 14.44% and a negative net margin of 8.51%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the business earned $1.21 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts expect that PENN Entertainment, Inc. will post -1.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PENN has been the subject of a number of recent research reports. Bank of America initiated coverage on shares of PENN Entertainment in a research report on Wednesday, November 13th. They set a “neutral” rating and a $22.00 price objective for the company. Barclays decreased 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 report on Thursday, October 17th. Susquehanna decreased their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research report on Monday, November 4th. Mizuho decreased 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 report on Tuesday, October 22nd. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $30.00 price target on shares of PENN Entertainment in a research note on Tuesday, October 8th. One 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.29.

Insider Activity

In other news, CEO Jay A. Snowden acquired 54,200 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the transaction, the chief executive officer now directly owns 853,045 shares in the company, valued at $15,730,149.80. This trade represents a 6.78 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anuj Dhanda acquired 15,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the transaction, the director now owns 31,523 shares of the company’s stock, valued at approximately $580,023.20. This trade represents a 90.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 79,200 shares of company stock worth $1,450,548. 2.19% of the stock is owned by corporate insiders.

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.