PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Sage Investment Advisers LLC

Sage Investment Advisers LLC lessened its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,580 shares of the company’s stock after selling 1,700 shares during the quarter. Sage Investment Advisers LLC’s holdings in PENN Entertainment were worth $848,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank raised its holdings in shares of PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after acquiring an additional 1,072 shares during the period. Harbor Investment Advisory LLC acquired a new position in PENN Entertainment in the 4th quarter valued at about $32,000. Lindbrook Capital LLC increased its holdings in shares of PENN Entertainment by 57.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after buying an additional 553 shares during the last quarter. Signaturefd LLC raised its position in shares of PENN Entertainment by 60.8% during the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after buying an additional 727 shares during the period. Finally, Tyler Stone Wealth Management lifted its holdings in PENN Entertainment by 34.0% in the third quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock valued at $45,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Macquarie cut their target price on PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Friday, May 3rd. Stifel Nicolaus dropped their price target on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Craig Hallum decreased their price objective on shares of PENN Entertainment from $25.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Finally, Canaccord Genuity Group dropped their target price on shares of PENN Entertainment from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.92.

PENN Entertainment Stock Down 1.6 %

Shares of PENN traded down $0.25 during midday trading on Wednesday, hitting $15.66. The company had a trading volume of 8,365,231 shares, compared to its average volume of 5,938,217. The company’s 50-day simple moving average is $17.38 and its 200-day simple moving average is $21.10. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $29.38. The firm has a market capitalization of $2.39 billion, a P/E ratio of -2.14 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. As a group, sell-side analysts expect that PENN Entertainment, Inc. will post -0.9 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.