Kodai Capital Management LP Boosts Stock Holdings in PENN Entertainment, Inc. $PENN

Key Points

• Kodai Capital Management LP increased its stake in PENN Entertainment by 21.8%, acquiring an additional 151,417 shares, bringing its total ownership to 846,333 shares valued at approximately $13.8 million.
• PENN Entertainment reported a $0.10 earnings per share for the last quarter, surpassing analysts' expectations of ($0.04) and achieving a revenue of $1.77 billion, up 6.1% compared to the previous year.
• Institutional investors and hedge funds collectively own 91.69% of PENN Entertainment's stock, indicating strong institutional interest in the company.

Kodai Capital Management LP raised its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 21.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 846,333 shares of the company's stock after purchasing an additional 151,417 shares during the period. Kodai Capital Management LP owned 0.56% of PENN Entertainment worth $13,804,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC raised its position in PENN Entertainment by 38.7% during the 1st quarter. GAMMA Investing LLC now owns 2,636 shares of the company's stock worth $43,000 after purchasing an additional 736 shares during the last quarter. Byrne Asset Management LLC raised its position in PENN Entertainment by 201.1% during the 1st quarter. Byrne Asset Management LLC now owns 2,710 shares of the company's stock worth $44,000 after purchasing an additional 1,810 shares during the last quarter. State of Wyoming bought a new position in PENN Entertainment during the 1st quarter worth $46,000. Signaturefd LLC raised its position in PENN Entertainment by 1,371.6% during the 1st quarter. Signaturefd LLC now owns 7,211 shares of the company's stock worth $118,000 after purchasing an additional 6,721 shares during the last quarter. Finally, KBC Group NV raised its position in PENN Entertainment by 42.2% during the 1st quarter. KBC Group NV now owns 7,824 shares of the company's stock worth $128,000 after purchasing an additional 2,323 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler bought 20,000 shares of the stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $16.96 per share, with a total value of $339,200.00. Following the acquisition, the director directly owned 342,941 shares of the company's stock, valued at $5,816,279.36. The trade was a 6.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.67% of the stock is owned by insiders.

PENN Entertainment Stock Down 0.9%

PENN stock traded down $0.18 during mid-day trading on Wednesday, reaching $19.79. 800,810 shares of the company traded hands, compared to its average volume of 4,246,095. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of -35.38 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 2.39. PENN Entertainment, Inc. has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The firm's 50 day moving average price is $18.39 and its 200 day moving average price is $17.22.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.14. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business earned ($0.18) EPS. The company's revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts predict that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PENN. Barclays lowered their price objective on PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Wall Street Zen lowered PENN Entertainment from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Benchmark reissued a "hold" rating on shares of PENN Entertainment in a research report on Monday, May 19th. Citigroup reissued an "outperform" rating on shares of PENN Entertainment in a research report on Friday, August 8th. Finally, Mizuho lowered their price objective on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a research report on Monday, May 12th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $23.25.

About PENN Entertainment

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.