PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 7.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,032 shares of the company’s stock after selling 2,449 shares during the period. Victory Capital Management Inc.’s holdings in PENN Entertainment were worth $548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in PENN Entertainment by 233.6% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after acquiring an additional 1,009 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of PENN Entertainment during the 3rd quarter worth about $45,000. International Assets Investment Management LLC increased 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 worth $61,000 after purchasing an additional 3,057 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in PENN Entertainment in the 2nd quarter valued at about $83,000. Finally, Quarry LP lifted its position in PENN Entertainment by 76.7% in the second 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. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on PENN shares. Wells Fargo & Company lifted their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, November 8th. Mizuho decreased their target price on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Craig Hallum reissued a “buy” rating and set a $30.00 price target on shares of PENN Entertainment in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.29.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $21.08 on Friday. The firm has a market capitalization of $3.22 billion, a PE ratio of -5.94 and a beta of 2.09. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The business’s fifty day moving average price is $19.57 and its 200 day moving average price is $18.77. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $27.20.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.04. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $1.21 EPS. On average, sell-side analysts anticipate that PENN Entertainment, Inc. will post -1.53 earnings per share for the current fiscal year.

Insider Transactions at PENN Entertainment

In related news, Director David A. Handler purchased 10,000 shares of PENN Entertainment stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of $17.51 per share, with a total value of $175,100.00. Following the completion of the transaction, the director now directly owns 293,450 shares in the company, valued at approximately $5,138,309.50. The trade was a 3.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anuj Dhanda acquired 15,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $18.40 per share, with a total value of $276,000.00. Following the purchase, the director now directly owns 31,523 shares of the company’s stock, valued at $580,023.20. This represents a 90.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 79,200 shares of company stock worth $1,450,548. 2.19% of the stock is currently owned by 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.