Clearline Capital LP Trims Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

Clearline Capital LP reduced its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 225,029 shares of the company's stock after selling 64,575 shares during the period. Clearline Capital LP owned approximately 0.15% of PENN Entertainment worth $4,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PENN. IFP Advisors Inc increased its position in shares of PENN Entertainment by 201.5% in the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock worth $31,000 after purchasing an additional 1,052 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of PENN Entertainment during the 4th quarter worth approximately $92,000. KBC Group NV raised its position in PENN Entertainment by 36.5% during the fourth quarter. KBC Group NV now owns 5,501 shares of the company's stock valued at $109,000 after purchasing an additional 1,470 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of PENN Entertainment by 914.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock valued at $119,000 after acquiring an additional 5,852 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its stake in shares of PENN Entertainment by 51.8% during the fourth quarter. Sterling Capital Management LLC now owns 9,030 shares of the company's stock valued at $179,000 after purchasing an additional 3,080 shares in the last quarter. Institutional investors own 91.69% of the company's stock.

Wall Street Analyst Weigh In

PENN has been the subject of a number of research reports. Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a report on Monday, March 3rd. Mizuho raised their target price on PENN Entertainment from $24.00 to $25.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. Canaccord Genuity Group dropped 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. Wells Fargo & Company increased their price objective 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, Stifel Nicolaus dropped their target price on shares of PENN Entertainment from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Tuesday, March 18th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, PENN Entertainment presently has an average rating of "Hold" and an average price target of $22.97.

PENN Entertainment Stock Performance

PENN Entertainment stock traded up $0.30 during mid-day trading on Friday, reaching $15.59. The company's stock had a trading volume of 3,412,019 shares, compared to its average volume of 4,271,724. The firm's fifty day moving average price is $15.97 and its two-hundred day moving average price is $18.77. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. PENN Entertainment, Inc. has a 12-month low of $13.25 and a 12-month high of $23.08. The company has a market capitalization of $2.35 billion, a P/E ratio of -4.39, a PEG ratio of 1.55 and a beta of 1.81.

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

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.