Assenagon Asset Management S.A. Raises Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Assenagon Asset Management S.A. grew its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 1,051.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,421,471 shares of the company’s stock after buying an additional 1,297,976 shares during the quarter. Assenagon Asset Management S.A. owned 0.93% of PENN Entertainment worth $26,809,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. United Services Automobile Association grew its stake in PENN Entertainment by 6.3% in the second quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock worth $232,000 after purchasing an additional 712 shares in the last quarter. Aaron Wealth Advisors LLC increased its stake in shares of PENN Entertainment by 6.0% during the second quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company’s stock valued at $247,000 after buying an additional 720 shares during the period. Arizona State Retirement System raised its holdings in shares of PENN Entertainment by 2.5% in the second quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock valued at $743,000 after acquiring an additional 944 shares in the last quarter. GAMMA Investing LLC lifted its stake in PENN Entertainment by 233.6% in 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 period. Finally, Nisa Investment Advisors LLC grew its holdings in PENN Entertainment by 7.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 16,745 shares of the company’s stock worth $324,000 after acquiring an additional 1,215 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Insider Activity at PENN Entertainment

In other news, CEO Jay A. Snowden acquired 54,200 shares of PENN Entertainment stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the purchase, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other PENN Entertainment news, CEO Jay A. Snowden bought 54,200 shares of PENN Entertainment stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $18.44 per share, with a total value of $999,448.00. Following the completion of the acquisition, the chief executive officer now owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Handler purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the acquisition, the director now owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 79,200 shares of company stock valued at $1,450,548 in the last three months. 2.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on PENN. Macquarie reaffirmed an “outperform” rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Friday, August 9th. Stifel Nicolaus upped their target price on PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, August 9th. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a report on Friday, October 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price objective on shares of PENN Entertainment in a research report on Tuesday, October 8th. Finally, Barclays reduced their target price on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.96.

PENN Entertainment Price Performance

Shares of PENN opened at $19.91 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35. The firm’s fifty day simple moving average is $18.93 and its 200-day simple moving average is $18.12. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -2.45 and a beta of 2.10. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $27.20.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Equities analysts forecast that PENN Entertainment, Inc. will post -1.37 EPS for the current fiscal year.

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.