Sender Co & Partners Inc. Boosts Stake in PENN Entertainment, Inc. $PENN

Key Points

• Sender Co & Partners Inc. increased its stake in PENN Entertainment by 155.4%, acquiring an additional 52,869 shares, bringing its total ownership to 86,880 shares valued at approximately $1.4 million.
• Institutional investors now own 91.69% of PENN Entertainment's stock, with several firms significantly increasing their holdings in the first quarter.
• PENN Entertainment reported a quarterly earnings per share (EPS) of $0.10, beating analysts' expectations and generating revenue of $1.77 billion, which was a 6.1% increase compared to the previous year.

Sender Co & Partners Inc. lifted its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 155.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 86,880 shares of the company's stock after acquiring an additional 52,869 shares during the period. Sender Co & Partners Inc. owned 0.06% of PENN Entertainment worth $1,417,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PENN. Invesco Ltd. raised its holdings in PENN Entertainment by 54.6% during the first quarter. Invesco Ltd. now owns 6,002,749 shares of the company's stock worth $97,905,000 after purchasing an additional 2,120,740 shares in the last quarter. Invenomic Capital Management LP raised its holdings in PENN Entertainment by 87.8% during the first quarter. Invenomic Capital Management LP now owns 1,859,112 shares of the company's stock worth $30,322,000 after purchasing an additional 869,347 shares in the last quarter. Kettle Hill Capital Management LLC raised its holdings in PENN Entertainment by 43.1% during the fourth quarter. Kettle Hill Capital Management LLC now owns 1,801,787 shares of the company's stock worth $35,711,000 after purchasing an additional 542,585 shares in the last quarter. Long Focus Capital Management LLC raised its holdings in PENN Entertainment by 13.9% during the first quarter. Long Focus Capital Management LLC now owns 1,760,200 shares of the company's stock worth $28,709,000 after purchasing an additional 215,200 shares in the last quarter. Finally, Man Group plc raised its holdings in PENN Entertainment by 25.0% during the fourth quarter. Man Group plc now owns 1,398,998 shares of the company's stock worth $27,728,000 after purchasing an additional 279,726 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on PENN. Wall Street Zen lowered PENN Entertainment from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Needham & Company LLC decreased their price target on PENN Entertainment from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. JPMorgan Chase & Co. assumed coverage on PENN Entertainment in a report on Monday, June 23rd. They set an "overweight" rating and a $24.00 price objective for the company. Citizens Jmp raised PENN Entertainment from a "market perform" rating to an "outperform" rating and set a $24.00 price objective for the company in a report on Thursday, June 26th. Finally, Susquehanna reaffirmed a "positive" rating and set a $25.00 price objective (up from $24.00) on shares of PENN Entertainment in a report on Tuesday, June 10th. Eleven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.25.

Insider Buying and Selling

In other PENN Entertainment news, Director David A. Handler bought 20,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $16.96 per share, for a total transaction of $339,200.00. Following the completion of the purchase, the director owned 342,941 shares of the company's stock, valued at $5,816,279.36. This trade represents a 6.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.67% of the company's stock.

PENN Entertainment Price Performance

Shares of NASDAQ PENN traded down $0.38 during trading on Friday, reaching $19.66. The company had a trading volume of 1,411,720 shares, compared to its average volume of 4,202,596. PENN Entertainment, Inc. has a twelve month low of $13.25 and a twelve month high of $23.08. The stock has a market capitalization of $2.87 billion, a PE ratio of -35.10 and a beta of 1.41. The stock has a 50-day moving average price of $18.65 and a two-hundred day moving average price of $17.17. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its quarterly 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. The company had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.73 billion. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.18) earnings per share. As a group, sell-side analysts predict that PENN Entertainment, Inc. will post -1.61 earnings per share 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.