GAMMA Investing LLC Boosts Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

GAMMA Investing LLC boosted its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 2,162.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,993 shares of the company's stock after purchasing an additional 41,093 shares during the quarter. GAMMA Investing LLC's holdings in PENN Entertainment were worth $701,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc grew its position in shares of PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock worth $31,000 after acquiring an additional 1,052 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of PENN Entertainment during the fourth quarter worth $92,000. CIBC Private Wealth Group LLC raised its position in shares of PENN Entertainment by 914.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock worth $119,000 after purchasing an additional 5,852 shares during the period. Sterling Capital Management LLC raised its position 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 worth $179,000 after purchasing an additional 3,080 shares during the period. Finally, Anson Funds Management LP purchased a new position in shares of PENN Entertainment during the fourth quarter valued at $198,000. Institutional investors and hedge funds own 91.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Canaccord Genuity Group lowered their target price on PENN Entertainment from $28.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a report on Monday, May 19th. Truist Financial dropped their target price on PENN Entertainment from $23.00 to $20.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. Susquehanna reaffirmed a "positive" rating and set a $25.00 price target (up from $24.00) on shares of PENN Entertainment in a report on Tuesday, June 10th. Finally, Macquarie restated an "outperform" rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Friday, February 28th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment has an average rating of "Hold" and a consensus price target of $23.23.

Insider Activity

In other PENN Entertainment news, CEO Jay A. Snowden bought 34,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $14.70 per share, for a total transaction of $499,800.00. Following the completion of the purchase, the chief executive officer now directly owns 1,082,625 shares of the company's stock, valued at approximately $15,914,587.50. This trade represents a 3.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David A. Handler purchased 10,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $14.83 per share, with a total value of $148,300.00. Following the completion of the acquisition, the director now directly owns 322,941 shares of the company's stock, valued at approximately $4,789,215.03. This represents a 3.20% increase in their position. The disclosure for this purchase can be found here. 2.67% of the stock is owned by company insiders.

PENN Entertainment Price Performance

Shares of NASDAQ PENN opened at $16.47 on Wednesday. The business's 50 day moving average price is $15.41 and its two-hundred day moving average price is $17.89. The company has a market cap of $2.49 billion, a PE ratio of -26.56 and a beta of 1.56. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.35. PENN Entertainment, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04. PENN Entertainment had a negative return on equity of 5.75% and a negative net margin of 1.28%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business earned ($0.76) earnings per share. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts predict that PENN Entertainment, Inc. will post -1.61 EPS 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.

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