PENN Entertainment, Inc. (NASDAQ:PENN) is Shapiro Capital Management LLC's 4th Largest Position

Shapiro Capital Management LLC decreased its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,873,932 shares of the company's stock after selling 83,969 shares during the quarter. PENN Entertainment makes up 4.6% of Shapiro Capital Management LLC's holdings, making the stock its 4th largest position. Shapiro Capital Management LLC owned about 4.50% of PENN Entertainment worth $136,241,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. M&T Bank Corp raised its holdings in shares of PENN Entertainment by 4.7% during the fourth quarter. M&T Bank Corp now owns 13,044 shares of the company's stock valued at $259,000 after acquiring an additional 584 shares during the last quarter. Westside Investment Management Inc. raised its holdings in shares of PENN Entertainment by 3.2% during the fourth quarter. Westside Investment Management Inc. now owns 19,849 shares of the company's stock valued at $393,000 after acquiring an additional 620 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of PENN Entertainment by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 14,774 shares of the company's stock valued at $293,000 after acquiring an additional 813 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of PENN Entertainment by 201.5% during the fourth quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock valued at $31,000 after acquiring an additional 1,052 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of PENN Entertainment by 1.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 103,305 shares of the company's stock valued at $2,048,000 after acquiring an additional 1,426 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Analyst Upgrades and Downgrades

PENN has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their target price on PENN Entertainment from $22.00 to $19.00 and set a "hold" rating for the company in a report on Tuesday, March 18th. Wells Fargo & Company lifted their price objective on PENN Entertainment from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. Canaccord Genuity Group reduced their price objective on PENN Entertainment from $28.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a research report on Monday. Finally, Truist Financial reduced their price objective on PENN Entertainment from $23.00 to $20.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $22.91.

PENN Entertainment Trading Down 3.5%

Shares of NASDAQ PENN traded down $0.56 during trading on Monday, reaching $15.45. The stock had a trading volume of 3,014,058 shares, compared to its average volume of 4,223,258. PENN Entertainment, Inc. has a fifty-two week low of $13.25 and a fifty-two week high of $23.08. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The business's 50-day moving average price is $15.75 and its 200-day moving average price is $18.63. The company has a market cap of $2.33 billion, a P/E ratio of -4.35, a PEG ratio of 1.55 and a beta of 1.81.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The business had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same period in the previous year, the firm posted ($0.76) earnings per share. The company's revenue was up 4.1% on a year-over-year basis. On average, equities research analysts predict that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal 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.