Short Interest in PENN Entertainment, Inc. (NASDAQ:PENN) Decreases By 14.2%

PENN Entertainment, Inc. (NASDAQ:PENN) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 25,090,000 shares, a decline of 14.2% from the May 31st total of 29,250,000 shares. Based on an average daily volume of 7,040,000 shares, the short-interest ratio is presently 3.6 days. Currently, 16.6% of the shares of the company are sold short.

Insider Activity at PENN Entertainment

In other news, CFO Felicia Hendrix bought 16,157 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the purchase, the chief financial officer now directly owns 68,596 shares in the company, valued at approximately $1,061,180.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director David A. Handler purchased 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average price of $14.94 per share, with a total value of $597,600.00. Following the acquisition, the director now owns 283,450 shares in the company, valued at $4,234,743. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Felicia Hendrix purchased 16,157 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $15.47 per share, with a total value of $249,948.79. Following the acquisition, the chief financial officer now owns 68,596 shares in the company, valued at approximately $1,061,180.12. The disclosure for this purchase can be found here. Insiders bought a total of 76,157 shares of company stock worth $1,154,949 in the last three months. Company insiders own 2.19% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Harbor Investment Advisory LLC acquired a new position in PENN Entertainment in the fourth quarter valued at about $32,000. Lindbrook Capital LLC lifted its position in shares of PENN Entertainment by 57.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after purchasing an additional 553 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of PENN Entertainment during the fourth quarter worth about $40,000. Rakuten Securities Inc. acquired a new stake in shares of PENN Entertainment during the fourth quarter worth about $78,000. Finally, TFO Wealth Partners LLC lifted its position in shares of PENN Entertainment by 123,033.3% during the fourth quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock worth $96,000 after purchasing an additional 3,691 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PENN. Canaccord Genuity Group cut their price target on shares of PENN Entertainment from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 29th. Raymond James lowered shares of PENN Entertainment from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. StockNews.com lowered shares of PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Wells Fargo & Company dropped their target price on shares of PENN Entertainment from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, May 3rd. Finally, Barclays dropped their target price on shares of PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.10.

PENN Entertainment Trading Up 2.5 %

Shares of PENN stock opened at $19.36 on Friday. The company’s 50-day moving average price is $16.96 and its 200-day moving average price is $19.45. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.04 and a quick ratio of 1.04. PENN Entertainment has a twelve month low of $13.50 and a twelve month high of $29.38.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, May 2nd. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, equities analysts expect that PENN Entertainment will post -1.35 earnings per share for the current 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.