UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 43,339 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 17.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 198,991 shares of the company's stock after selling 43,339 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of PENN Entertainment worth $3,753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PENN. Nisa Investment Advisors LLC boosted its stake in PENN Entertainment by 4.0% during the third quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company's stock worth $328,000 after buying an additional 665 shares in the last quarter. United Services Automobile Association increased 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 valued at $232,000 after acquiring an additional 712 shares during the period. Aaron Wealth Advisors LLC raised its position in PENN Entertainment by 6.0% in the second quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company's stock worth $247,000 after purchasing an additional 720 shares in the last quarter. Arizona State Retirement System lifted its stake in PENN Entertainment by 2.5% during the second quarter. Arizona State Retirement System now owns 38,403 shares of the company's stock worth $743,000 after purchasing an additional 944 shares during the period. Finally, New World Advisors LLC boosted its holdings in PENN Entertainment by 7.5% during the third quarter. New World Advisors LLC now owns 15,800 shares of the company's stock valued at $298,000 after purchasing an additional 1,100 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on PENN shares. Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a research report on Friday, November 8th. Barclays lowered their target price on shares of PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, October 17th. Truist Financial cut their price target 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. Bank of America started coverage on shares of PENN Entertainment in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $22.00 target price for the company. Finally, Wells Fargo & Company raised their price target on PENN Entertainment from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $23.53.

PENN Entertainment Price Performance

PENN stock traded up $0.78 during mid-day trading on Friday, reaching $20.79. 5,274,541 shares of the company traded hands, compared to its average volume of 4,887,370. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $27.20. The company has a market capitalization of $3.17 billion, a P/E ratio of -5.84 and a beta of 2.08. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. The company has a fifty day moving average price of $19.93 and a 200-day moving average price of $19.09.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its quarterly earnings data 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. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the company earned $1.21 earnings per share. The firm's quarterly revenue was up 1.2% on a year-over-year basis. As a group, analysts anticipate that PENN Entertainment, Inc. will post -1.53 earnings per share 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.