Nuveen Asset Management LLC Reduces Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

Nuveen Asset Management LLC reduced its position in PENN Entertainment, Inc. (NASDAQ:PENN – Get Rating) by 28.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 436,193 shares of the company’s stock after selling 174,828 shares during the period. Nuveen Asset Management LLC owned approximately 0.28% of PENN Entertainment worth $12,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of PENN Entertainment by 94.5% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 47,219 shares of the company’s stock worth $1,448,000 after buying an additional 22,947 shares during the last quarter. Occudo Quantitative Strategies LP lifted its position in PENN Entertainment by 260.7% during the second quarter. Occudo Quantitative Strategies LP now owns 45,163 shares of the company’s stock valued at $1,374,000 after purchasing an additional 32,641 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in PENN Entertainment during the second quarter valued at $309,000. Commerce Bank purchased a new position in PENN Entertainment during the second quarter valued at $338,000. Finally, Eagle Asset Management Inc. purchased a new position in PENN Entertainment during the second quarter valued at $3,251,000. 84.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden sold 163,475 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $30.12, for a total transaction of $4,923,867.00. Following the completion of the transaction, the chief executive officer now owns 604,527 shares in the company, valued at $18,208,353.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other PENN Entertainment news, Director Saul Reibstein sold 39,457 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $33.39, for a total transaction of $1,317,469.23. Following the completion of the transaction, the director now owns 37,055 shares in the company, valued at $1,237,266.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay A. Snowden sold 163,475 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $30.12, for a total value of $4,923,867.00. Following the transaction, the chief executive officer now owns 604,527 shares of the company’s stock, valued at approximately $18,208,353.24. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PENN shares. Deutsche Bank Aktiengesellschaft lowered their target price on PENN Entertainment from $35.00 to $31.00 in a research report on Friday, February 3rd. JMP Securities reissued a “market outperform” rating and set a $45.00 price target on shares of PENN Entertainment in a report on Friday, February 3rd. MKM Partners raised their price target on PENN Entertainment from $33.00 to $35.00 in a report on Friday, February 3rd. Morgan Stanley decreased their price target on PENN Entertainment from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 1st. Finally, JPMorgan Chase & Co. cut PENN Entertainment from an “overweight” rating to a “neutral” rating and raised their price target for the company from $38.00 to $39.00 in a report on Monday, November 28th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.13.

PENN Entertainment Trading Down 1.6 %

Shares of NASDAQ PENN opened at $29.83 on Wednesday. The business’s 50 day moving average is $31.95 and its two-hundred day moving average is $31.96. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.74 and a quick ratio of 1.74. PENN Entertainment, Inc. has a 1-year low of $25.49 and a 1-year high of $45.41. The stock has a market capitalization of $4.55 billion, a P/E ratio of 23.12, a PEG ratio of 1.20 and a beta of 2.22.

PENN Entertainment (NASDAQ:PENN – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.20). PENN Entertainment had a return on equity of 5.98% and a net margin of 3.47%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. As a group, research analysts expect that PENN Entertainment, Inc. will post 1.44 EPS for the current year.

About PENN Entertainment

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PENN Entertainment, Inc owns and manages gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. It operates through the following business segments: Northeast, South, West, Midwest, Interactive, and Other. The Northeast segment consists of properties including Ameristar East Chicago, Greektown Casino-Hotel, and Hollywood Casino Bangor.