Sanctuary Advisors LLC Reduces Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Sanctuary Advisors LLC trimmed its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 30.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 44,375 shares of the company’s stock after selling 19,444 shares during the quarter. Sanctuary Advisors LLC’s holdings in PENN Entertainment were worth $911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PENN. Raymond James & Associates increased its stake in shares of PENN Entertainment by 81.7% in the 2nd quarter. Raymond James & Associates now owns 155,826 shares of the company’s stock worth $3,016,000 after purchasing an additional 70,067 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of PENN Entertainment by 7.8% in the second quarter. Nisa Investment Advisors LLC now owns 16,745 shares of the company’s stock worth $324,000 after purchasing an additional 1,215 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of PENN Entertainment by 75.3% in the second quarter. Louisiana State Employees Retirement System now owns 75,200 shares of the company’s stock worth $1,455,000 after purchasing an additional 32,300 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of PENN Entertainment by 30.8% during the 2nd quarter. Principal Financial Group Inc. now owns 733,840 shares of the company’s stock valued at $14,203,000 after buying an additional 172,792 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in PENN Entertainment by 425.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 64,341 shares of the company’s stock worth $1,245,000 after buying an additional 52,104 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Macquarie raised their price target on PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Wells Fargo & Company upped 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. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. Benchmark restated a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 8th. Finally, StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.53.

PENN Entertainment Trading Up 2.5 %

Shares of NASDAQ PENN opened at $18.62 on Monday. The stock has a market capitalization of $2.84 billion, a P/E ratio of -5.25 and a beta of 2.08. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20. The business’s 50 day moving average is $20.00 and its two-hundred day moving average is $19.27. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

PENN Entertainment (NASDAQ:PENN) last released 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 firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS. As a group, research analysts expect that PENN Entertainment, Inc. will post -1.55 EPS for the current year.

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.