Geode Capital Management LLC Sells 150,352 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Geode Capital Management LLC decreased its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,347,551 shares of the company's stock after selling 150,352 shares during the period. Geode Capital Management LLC owned 1.54% of PENN Entertainment worth $44,287,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PENN. Driehaus Capital Management LLC acquired a new stake in shares of PENN Entertainment during the second quarter worth $4,535,000. Janus Henderson Group PLC increased its holdings in shares of PENN Entertainment by 244.7% during the third quarter. Janus Henderson Group PLC now owns 249,106 shares of the company's stock worth $4,697,000 after purchasing an additional 176,844 shares during the period. Verition Fund Management LLC raised its position in shares of 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 buying an additional 356,029 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of 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 buying an additional 95,423 shares during the period. Finally, Public Sector Pension Investment Board acquired a new stake in PENN Entertainment during the second quarter worth approximately $6,363,000. 91.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PENN. Craig Hallum reiterated a "buy" rating and set a $30.00 target price on shares of PENN Entertainment in a research report on Tuesday, October 8th. Wells Fargo & Company increased their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Benchmark restated a "hold" rating on shares of PENN Entertainment in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $26.00 price target on shares of PENN Entertainment in a report on Friday, November 8th. Finally, Macquarie lifted their price objective on shares of PENN Entertainment from $26.00 to $27.00 and gave the company 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.53.

PENN Entertainment Stock Performance

Shares of PENN stock remained flat at $18.13 during mid-day trading on Tuesday. The stock had a trading volume of 1,481,048 shares, compared to its average volume of 4,843,298. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $27.20. 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's 50 day simple moving average is $19.99 and its two-hundred day simple moving average is $19.27. The company has a market cap of $2.77 billion, a P/E ratio of -5.11 and a beta of 2.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.04. The firm 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 company's revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 earnings per share. On average, equities analysts anticipate that PENN Entertainment, Inc. will post -1.55 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.