Assenagon Asset Management S.A. Has $211,000 Holdings in PENN Entertainment, Inc. (NASDAQ:PENN)

Assenagon Asset Management S.A. lessened its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 92.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,909 shares of the company's stock after selling 161,812 shares during the period. Assenagon Asset Management S.A.'s holdings in PENN Entertainment were worth $211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in PENN Entertainment by 38.7% during the first quarter. GAMMA Investing LLC now owns 2,636 shares of the company's stock valued at $43,000 after purchasing an additional 736 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in PENN Entertainment by 33.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 264,587 shares of the company's stock valued at $5,244,000 after buying an additional 65,596 shares during the period. Tidal Investments LLC grew its position in PENN Entertainment by 11.7% in the fourth quarter. Tidal Investments LLC now owns 16,626 shares of the company's stock worth $330,000 after acquiring an additional 1,738 shares in the last quarter. Sender Co & Partners Inc. grew its position in PENN Entertainment by 99.5% in the fourth quarter. Sender Co & Partners Inc. now owns 34,011 shares of the company's stock worth $674,000 after acquiring an additional 16,967 shares in the last quarter. Finally, Shay Capital LLC bought a new stake in PENN Entertainment in the fourth quarter worth approximately $1,067,000. 91.69% of the stock is owned by institutional investors and hedge funds.

PENN Entertainment Price Performance

PENN traded up $0.06 during midday trading on Monday, hitting $17.11. The company had a trading volume of 5,216,930 shares, compared to its average volume of 3,850,557. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market capitalization of $2.58 billion, a PE ratio of -27.60 and a beta of 1.57. PENN Entertainment, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08. The firm's 50-day simple moving average is $15.54 and its 200-day simple moving average is $17.77.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PENN. Canaccord Genuity Group decreased their price objective on shares of PENN Entertainment from $28.00 to $26.00 and set a "buy" rating for the company in a report on Monday, May 5th. Benchmark reissued a "hold" rating on shares of PENN Entertainment in a report on Monday, May 19th. Wall Street Zen raised shares of PENN Entertainment from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Needham & Company LLC reduced their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Mizuho dropped their price objective on shares of PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $23.03.

Insider Activity

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

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.