Wolf Hill Capital Management LP Purchases Shares of 11,435 PENN Entertainment, Inc. (NASDAQ:PENN)

Wolf Hill Capital Management LP acquired a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,435 shares of the company’s stock, valued at approximately $221,000. PENN Entertainment accounts for 0.0% of Wolf Hill Capital Management LP’s portfolio, making the stock its 24th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in PENN Entertainment by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,017,781 shares of the company’s stock valued at $26,483,000 after buying an additional 43,605 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of PENN Entertainment by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,138,297 shares of the company’s stock worth $29,623,000 after acquiring an additional 17,622 shares in the last quarter. Principal Financial Group Inc. grew its position in PENN Entertainment by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 582,099 shares of the company’s stock worth $15,146,000 after acquiring an additional 24,768 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in PENN Entertainment by 117.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 21,132 shares of the company’s stock valued at $550,000 after purchasing an additional 11,400 shares in the last quarter. Finally, Norges Bank bought a new position in PENN Entertainment in the 4th quarter valued at $42,758,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

Shares of NASDAQ:PENN opened at $20.08 on Friday. The firm’s 50 day simple moving average is $18.92 and its 200 day simple moving average is $17.98. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -2.70 and a beta of 2.10. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.09. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts forecast that PENN Entertainment, Inc. will post -1.41 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on PENN shares. Barclays raised their target price on PENN Entertainment from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Truist Financial boosted their target price on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, June 4th. Stifel Nicolaus boosted their price objective on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Craig Hallum raised PENN Entertainment from a “hold” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $30.00 in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.77.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the transaction, the chief executive officer now directly owns 853,045 shares in the company, valued at approximately $15,730,149.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director David A. Handler bought 10,000 shares of PENN Entertainment stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of $17.51 per share, with a total value of $175,100.00. Following the purchase, the director now owns 293,450 shares in the company, valued at $5,138,309.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jay A. Snowden bought 54,200 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $18.44 per share, with a total value of $999,448.00. Following the acquisition, the chief executive officer now owns 853,045 shares in the company, valued at approximately $15,730,149.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 79,200 shares of company stock valued at $1,450,548. Company insiders own 2.19% of the company’s stock.

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.