Jennison Associates LLC grew its position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 103.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 768,503 shares of the company's stock after acquiring an additional 391,640 shares during the period. Jennison Associates LLC owned 0.50% of PENN Entertainment worth $14,494,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of PENN Entertainment by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company's stock valued at $328,000 after purchasing an additional 665 shares during the period. United Services Automobile Association boosted its holdings in PENN Entertainment by 6.3% during the second quarter. United Services Automobile Association now owns 12,009 shares of the company's stock worth $232,000 after buying an additional 712 shares during the last quarter. Aaron Wealth Advisors LLC grew its position in shares of PENN Entertainment by 6.0% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company's stock worth $247,000 after buying an additional 720 shares during the period. Arizona State Retirement System increased its stake in shares of PENN Entertainment by 2.5% in the 2nd 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 during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of PENN Entertainment by 233.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock valued at $28,000 after acquiring an additional 1,009 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.
PENN opened at $20.52 on Friday. The business's 50-day simple moving average is $19.45 and its 200 day simple moving average is $18.59. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $27.20. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $3.13 billion, a PE ratio of -5.78 and a beta of 2.09.
PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the prior year, the business posted $1.21 EPS. The business's revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts expect that PENN Entertainment, Inc. will post -1.53 earnings per share for the current fiscal year.
PENN has been the subject of several recent analyst reports. Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a research note on Friday, November 8th. Macquarie upped their price objective on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. JMP Securities reissued a "market perform" rating on shares of PENN Entertainment in a research note on Friday, October 4th. Bank of America initiated coverage on PENN Entertainment in a report on Wednesday, November 13th. They set a "neutral" rating and a $22.00 price objective on the stock. Finally, Needham & Company LLC reissued a "buy" rating and set a $26.00 target price on shares of PENN Entertainment in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $23.29.
Read Our Latest Report on PENN Entertainment
In other PENN Entertainment news, Director Anuj Dhanda acquired 15,000 shares of the company's stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the purchase, the director now directly owns 31,523 shares of the company's stock, valued at approximately $580,023.20. This represents a 90.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jay A. Snowden bought 54,200 shares of PENN Entertainment stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the purchase, the chief executive officer now directly owns 853,045 shares in the company, valued at $15,730,149.80. This trade represents a 6.78 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 79,200 shares of company stock worth $1,450,548 over the last quarter. 2.19% of the stock is currently owned by insiders.
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.
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