Seven Eight Capital LP Has $806,000 Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Seven Eight Capital LP trimmed its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 43.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,661 shares of the company’s stock after selling 31,989 shares during the quarter. Seven Eight Capital LP’s holdings in PENN Entertainment were worth $806,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, Director David A. Handler bought 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average cost of $17.51 per share, with a total value of $175,100.00. Following the transaction, the director now directly owns 293,450 shares in the company, valued at $5,138,309.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David A. Handler purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $17.51 per share, with a total value of $175,100.00. Following the completion of the purchase, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Anuj Dhanda acquired 15,000 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the transaction, the director now directly owns 31,523 shares of the company’s stock, valued at $580,023.20. The disclosure for this purchase can be found here. Insiders have acquired a total of 79,200 shares of company stock valued at $1,450,548 over the last 90 days. 2.19% of the stock is owned by insiders.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $20.08 on Friday. The stock’s 50-day moving average is $18.92 and its 200-day moving average is $17.98. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35. The stock has a market cap of $3.06 billion, a P/E ratio of -2.70 and a beta of 2.10.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Craig Hallum upgraded 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 research report on Friday, June 21st. Susquehanna reissued a “positive” rating and issued a $26.00 target price on shares of PENN Entertainment in a report on Friday, June 21st. Stifel Nicolaus upped their price target on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Macquarie restated an “outperform” rating and set a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.77.

About PENN Entertainment

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.