XTX Topco Ltd Cuts Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

XTX Topco Ltd lessened its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 17.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,721 shares of the company’s stock after selling 4,832 shares during the period. XTX Topco Ltd’s holdings in PENN Entertainment were worth $440,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of PENN Entertainment in the 4th quarter worth about $42,758,000. Invenomic Capital Management LP raised its holdings in PENN Entertainment by 71.9% in the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock worth $34,313,000 after buying an additional 787,968 shares during the last quarter. Sei Investments Co. lifted its stake in shares of PENN Entertainment by 52.8% in the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after buying an additional 725,221 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of PENN Entertainment by 284.6% during the first quarter. National Bank of Canada FI now owns 968,514 shares of the company’s stock valued at $17,637,000 after buying an additional 716,686 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of PENN Entertainment during the fourth quarter valued at approximately $16,341,000. 91.69% of the stock is owned by institutional investors.

PENN Entertainment Stock Performance

PENN opened at $18.81 on Wednesday. The company has a 50 day simple moving average of $18.89 and a two-hundred day simple moving average of $17.99. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $2.87 billion, a P/E ratio of -2.52 and a beta of 2.10. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20.

PENN Entertainment (NASDAQ:PENN) last issued 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. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. PENN Entertainment’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. Equities analysts forecast that PENN Entertainment, Inc. will post -1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PENN has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price on PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Susquehanna reissued a “positive” rating and issued a $26.00 target price on shares of PENN Entertainment in a research report on Friday, June 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Thursday, August 8th. Barclays lifted their price target on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, PENN Entertainment presently has a consensus rating of “Hold” and an average price target of $23.77.

Insider Buying and Selling

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