Sender Co & Partners Inc. Purchases 52,869 Shares of 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. grew its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 155.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,880 shares of the company's stock after purchasing an additional 52,869 shares during the quarter. Sender Co & Partners Inc. owned about 0.06% of PENN Entertainment worth $1,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Invesco Ltd. grew its position in shares of PENN Entertainment by 54.6% during the 1st quarter. Invesco Ltd. now owns 6,002,749 shares of the company's stock worth $97,905,000 after buying an additional 2,120,740 shares during the period. Invenomic Capital Management LP boosted its stake 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 acquiring an additional 869,347 shares in the last quarter. Victory Capital Management Inc. grew its holdings in PENN Entertainment by 2,612.0% in the first quarter. Victory Capital Management Inc. now owns 773,938 shares of the company's stock worth $12,623,000 after purchasing an additional 745,400 shares during the period. Cubist Systematic Strategies LLC increased its stake in PENN Entertainment by 384.8% in the first quarter. Cubist Systematic Strategies LLC now owns 418,146 shares of the company's stock valued at $6,820,000 after purchasing an additional 564,946 shares in the last quarter. Finally, Kettle Hill Capital Management LLC raised its holdings in shares of 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 valued at $35,711,000 after purchasing an additional 542,585 shares during the period. Institutional investors and hedge funds own 91.69% of the company's stock.

PENN Entertainment Trading Up 0.2%

Shares of PENN Entertainment stock traded up $0.04 during mid-day trading on Wednesday, hitting $20.10. 3,762,021 shares of the stock were exchanged, compared to its average volume of 3,213,157. PENN Entertainment, Inc. has a 12 month low of $13.25 and a 12 month high of $23.08. The company has a 50-day simple moving average of $18.62 and a 200 day simple moving average of $17.18. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.79 and a quick ratio of 0.79.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, beating 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 company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the business posted ($0.18) earnings per share. PENN Entertainment's revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts forecast that PENN Entertainment, Inc. will post -1.61 earnings per share for the current fiscal year.

Insider Transactions at PENN Entertainment

In related news, Director David A. Handler acquired 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 completion of the transaction, the director owned 342,941 shares in the company, valued at approximately $5,816,279.36. The trade was a 6.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PENN. Stifel Nicolaus increased their target price on PENN Entertainment from $17.00 to $19.00 and gave the stock a "hold" rating in a report on Friday, July 11th. Benchmark restated a "hold" rating on shares of PENN Entertainment in a report on Monday, May 19th. Needham & Company LLC reduced their price objective on shares of PENN Entertainment from $25.00 to $22.00 and set a "buy" rating for the company in a report on Friday, August 8th. Citigroup reissued an "outperform" rating on shares of PENN Entertainment in a research report on Friday, August 8th. Finally, Citizens Jmp raised shares of PENN Entertainment from a "market perform" rating to an "outperform" rating and set a $24.00 price target on the stock in a research report on Thursday, June 26th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.25.

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.