Nuveen Asset Management LLC Has $5.14 Million Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Nuveen Asset Management LLC lessened its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 259,519 shares of the company's stock after selling 17,464 shares during the period. Nuveen Asset Management LLC owned 0.17% of PENN Entertainment worth $5,144,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PENN. Contrarius Group Holdings Ltd acquired a new stake in PENN Entertainment during the 4th quarter worth $34,994,000. Norges Bank acquired a new stake in PENN Entertainment during the 4th quarter worth $27,901,000. Raymond James Financial Inc. acquired a new stake in PENN Entertainment during the 4th quarter worth $17,804,000. Invesco Ltd. grew its holdings in PENN Entertainment by 28.0% during the 4th quarter. Invesco Ltd. now owns 3,882,009 shares of the company's stock worth $76,941,000 after acquiring an additional 848,066 shares during the period. Finally, Benchstone Capital Management LP acquired a new stake in PENN Entertainment during the 4th quarter worth $16,613,000. Institutional investors and hedge funds own 91.69% of the company's stock.

Wall Street Analysts Forecast Growth

PENN has been the topic of a number of recent analyst reports. Susquehanna reduced their price target on shares of PENN Entertainment from $26.00 to $23.00 and set a "positive" rating on the stock in a research report on Tuesday, April 15th. Truist Financial reduced their price target on shares of PENN Entertainment from $23.00 to $20.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of PENN Entertainment from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Wells Fargo & Company lifted their price target on shares of PENN Entertainment from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. Finally, Canaccord Genuity Group reduced their price target on shares of PENN Entertainment from $28.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $23.10.

Insider Transactions at PENN Entertainment

In other news, CEO Jay A. Snowden acquired 34,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were bought at an average cost of $14.70 per share, for a total transaction of $499,800.00. Following the purchase, the chief executive officer now directly owns 1,082,625 shares of the company's stock, valued at approximately $15,914,587.50. This trade represents a 3.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Handler acquired 10,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $14.83 per share, for a total transaction of $148,300.00. Following the completion of the purchase, the director now directly owns 322,941 shares in the company, valued at $4,789,215.03. The trade was a 3.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.19% of the stock is owned by company insiders.

PENN Entertainment Stock Up 0.2%

NASDAQ:PENN traded up $0.03 on Wednesday, hitting $15.42. 3,925,224 shares of the company's stock were exchanged, compared to its average volume of 4,090,429. The firm has a 50-day moving average price of $15.23 and a 200-day moving average price of $18.19. 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, Inc. has a 52 week low of $13.25 and a 52 week high of $23.08. The company has a market cap of $2.33 billion, a P/E ratio of -4.34, a price-to-earnings-growth ratio of 1.55 and a beta of 1.81.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. The firm had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.71 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.76) EPS. As a group, analysts expect that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal year.

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.