Wolf Hill Capital Management LP Takes $221,000 Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Wolf Hill Capital Management LP bought a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 11,435 shares of the company’s stock, valued at approximately $221,000. PENN Entertainment accounts for about 0.0% of Wolf Hill Capital Management LP’s portfolio, making the stock its 24th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. grew its holdings in shares of PENN Entertainment by 7.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock valued at $252,000 after acquiring an additional 632 shares in the last quarter. United Services Automobile Association grew its stake in PENN Entertainment by 6.3% in the second quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock valued at $232,000 after purchasing an additional 712 shares in the last quarter. Aaron Wealth Advisors LLC increased its position in shares of PENN Entertainment by 6.0% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company’s stock worth $247,000 after purchasing an additional 720 shares during the last quarter. Arizona State Retirement System raised its stake in shares of PENN Entertainment by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock worth $743,000 after purchasing an additional 944 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of PENN Entertainment by 233.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after buying an additional 1,009 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Insider Activity

In other news, Director David A. Handler acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average cost of $17.51 per share, with a total value of $175,100.00. Following the completion of the purchase, the director now directly owns 293,450 shares of the company’s stock, valued at approximately $5,138,309.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PENN Entertainment news, Director David A. Handler bought 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the transaction, the director now directly owns 293,450 shares in the company, valued at approximately $5,138,309.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jay A. Snowden bought 54,200 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $18.44 per share, with a total value of $999,448.00. Following the acquisition, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 79,200 shares of company stock worth $1,450,548. 2.19% of the stock is currently owned by corporate insiders.

PENN Entertainment Price Performance

Shares of NASDAQ PENN opened at $20.08 on Friday. The business has a fifty day moving average price of $18.92 and a two-hundred day moving average price of $17.98. The stock has a market capitalization of $3.06 billion, a PE ratio of -2.70 and a beta of 2.10. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $27.20.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. PENN Entertainment’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. As a group, equities analysts predict that PENN Entertainment, Inc. will post -1.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PENN has been the topic of several analyst reports. Raymond James lowered shares of PENN Entertainment from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Craig Hallum raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and upped their target price for the company from $20.00 to $30.00 in a report on Friday, June 21st. Morgan Stanley reduced their price target on PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Barclays upped their price objective on PENN Entertainment from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.77.

PENN Entertainment 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.