Sage Investment Advisers LLC Sells 1,700 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Sage Investment Advisers LLC lowered its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,580 shares of the company’s stock after selling 1,700 shares during the quarter. Sage Investment Advisers LLC’s holdings in PENN Entertainment were worth $848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Earnest Partners LLC grew its stake in PENN Entertainment by 11.1% in the 3rd quarter. Earnest Partners LLC now owns 2,718,095 shares of the company’s stock valued at $62,380,000 after buying an additional 271,254 shares during the last quarter. Sei Investments Co. grew its position in shares of PENN Entertainment by 13.9% in the third quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock valued at $31,510,000 after purchasing an additional 167,445 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of PENN Entertainment by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,017,781 shares of the company’s stock worth $26,483,000 after purchasing an additional 43,605 shares during the period. Kettle Hill Capital Management LLC acquired a new position in shares of PENN Entertainment during the 3rd quarter worth about $19,792,000. Finally, Assenagon Asset Management S.A. boosted its stake in PENN Entertainment by 443.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 714,900 shares of the company’s stock valued at $16,407,000 after purchasing an additional 583,388 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

PENN has been the topic of several recent analyst reports. Stifel Nicolaus dropped their price target on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. StockNews.com lowered shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Craig Hallum reduced their price target on shares of PENN Entertainment from $25.00 to $20.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of PENN Entertainment in a report on Thursday, May 2nd. Finally, Benchmark reiterated a “hold” rating on shares of PENN Entertainment in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.92.

PENN Entertainment Price Performance

Shares of PENN traded down $0.25 during mid-day trading on Wednesday, reaching $15.66. The company had a trading volume of 8,365,231 shares, compared to its average volume of 5,938,217. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $2.39 billion, a P/E ratio of -2.14 and a beta of 2.06. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $29.38. The company’s 50-day moving average is $17.38 and its 200-day moving average is $21.10.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. On average, equities analysts anticipate that PENN Entertainment, Inc. will post -0.9 EPS for the current 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.