Mutual of America Capital Management LLC Trims Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Mutual of America Capital Management LLC decreased its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 8.4% during the third quarter, HoldingsChannel.com reports. The firm owned 22,499 shares of the company’s stock after selling 2,063 shares during the period. Mutual of America Capital Management LLC’s holdings in PENN Entertainment were worth $424,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PENN. GAMMA Investing LLC increased its holdings in PENN Entertainment by 233.6% during the 2nd 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 period. DekaBank Deutsche Girozentrale purchased a new position in shares of PENN Entertainment during the 3rd quarter valued at $45,000. International Assets Investment Management LLC raised its position in shares of PENN Entertainment by 1,634.8% in the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after buying an additional 3,057 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in PENN Entertainment during the second quarter valued at $83,000. Finally, Quarry LP increased its stake in PENN Entertainment by 76.7% in the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after acquiring an additional 1,862 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports 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 research report on Thursday, October 17th. Macquarie increased their target price on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Truist Financial decreased their price objective on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Mizuho dropped their price objective on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.29.

Insider Transactions at PENN Entertainment

In other news, CEO Jay A. Snowden purchased 54,200 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $18.44 per share, with a total value of $999,448.00. Following the purchase, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. This trade represents a 6.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Handler purchased 10,000 shares of PENN Entertainment stock in a transaction on Tuesday, September 10th. The shares were acquired at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the purchase, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. This trade represents a 3.53 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 79,200 shares of company stock worth $1,450,548. Company insiders own 2.19% of the company’s stock.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $21.08 on Thursday. The stock has a fifty day simple moving average of $19.55 and a 200-day simple moving average of $18.75. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a market cap of $3.22 billion, a PE ratio of -5.94 and a beta of 2.09. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $27.20.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $1.64 billion during 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 business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. Equities analysts anticipate that PENN Entertainment, Inc. will post -1.53 earnings per share for the current year.

PENN Entertainment 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.