PENN Entertainment, Inc. (NASDAQ:PENN) Stock Position Trimmed by Shapiro Capital Management LLC

Shapiro Capital Management LLC decreased its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 33.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,869,875 shares of the company’s stock after selling 3,399,643 shares during the period. PENN Entertainment makes up about 4.0% of Shapiro Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Shapiro Capital Management LLC owned 4.50% of PENN Entertainment worth $132,966,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. B. Riley Wealth Advisors Inc. boosted its position in PENN Entertainment by 7.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock valued at $252,000 after acquiring an additional 632 shares in the last quarter. United Services Automobile Association boosted its position in PENN Entertainment by 6.3% during the second quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock valued at $232,000 after purchasing an additional 712 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in PENN Entertainment by 6.0% in the second quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company’s stock valued at $247,000 after purchasing an additional 720 shares during the last quarter. Arizona State Retirement System raised its holdings in PENN Entertainment by 2.5% in 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 in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of PENN Entertainment by 233.6% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after buying an additional 1,009 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PENN Entertainment Price Performance

NASDAQ:PENN opened at $19.51 on Tuesday. The firm’s fifty day moving average is $18.91 and its two-hundred day moving average is $17.99. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -2.62 and a beta of 2.10. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $27.20.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, June 4th. Raymond James downgraded PENN Entertainment from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research report on Thursday, August 8th. Barclays upped their target price on PENN Entertainment from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, Macquarie reissued an “outperform” rating and issued a $26.00 price target on shares of PENN Entertainment in a report on Friday, August 9th. One research 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 presently has a consensus rating of “Hold” and a consensus price target of $23.77.

Insider Transactions at PENN Entertainment

In other news, Director David A. Handler bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the purchase, the director now directly owns 293,450 shares in the company, valued at approximately $5,138,309.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director David A. Handler acquired 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average price of $17.51 per share, with a total value of $175,100.00. Following the completion of the acquisition, the director now owns 293,450 shares of the company’s stock, valued at $5,138,309.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anuj Dhanda bought 15,000 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the purchase, the director now owns 31,523 shares in the company, valued at $580,023.20. The disclosure for this purchase can be found here. Insiders have bought 79,200 shares of company stock valued at $1,450,548 in the last 90 days. 2.19% of the stock is currently owned by company insiders.

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.