Sanctuary Advisors LLC Sells 19,444 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Sanctuary Advisors LLC cut its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 30.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,375 shares of the company’s stock after selling 19,444 shares during the quarter. Sanctuary Advisors LLC’s holdings in PENN Entertainment were worth $911,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PENN. Driehaus Capital Management LLC bought a new stake in PENN Entertainment in the second quarter worth $4,535,000. Janus Henderson Group PLC grew its position in PENN Entertainment by 244.7% during the 3rd quarter. Janus Henderson Group PLC now owns 249,106 shares of the company’s stock worth $4,697,000 after acquiring an additional 176,844 shares during the last quarter. Verition Fund Management LLC lifted its position in PENN Entertainment by 367.2% in the third quarter. Verition Fund Management LLC now owns 452,988 shares of the company’s stock valued at $8,543,000 after purchasing an additional 356,029 shares during the last quarter. Quantbot Technologies LP lifted its position in PENN Entertainment by 84.7% in the third quarter. Quantbot Technologies LP now owns 208,094 shares of the company’s stock valued at $3,925,000 after purchasing an additional 95,423 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new position in shares of PENN Entertainment in the second quarter worth approximately $6,363,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Price Performance

Shares of NASDAQ:PENN opened at $18.62 on Monday. The company has a market capitalization of $2.84 billion, a PE ratio of -5.25 and a beta of 2.08. The business has a fifty day moving average price of $20.00 and a 200-day moving average price of $19.27. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. During the same quarter in the prior year, the company posted $1.21 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts expect that PENN Entertainment, Inc. will post -1.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on PENN. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. JPMorgan Chase & Co. raised PENN Entertainment from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $27.00 in a research note on Friday, December 13th. Craig Hallum reaffirmed a “buy” rating and set a $30.00 price target on shares of PENN Entertainment in a research report on Tuesday, October 8th. Truist Financial reduced their target price on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Macquarie increased their price target on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

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.