PENN Entertainment, Inc. (NASDAQ:PENN) Shares Bought by Armistice Capital LLC

Armistice Capital LLC raised its position in PENN Entertainment, Inc. (NASDAQ:PENN) by 91.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,643,060 shares of the company’s stock after acquiring an additional 1,266,023 shares during the period. PENN Entertainment makes up 0.6% of Armistice Capital LLC’s investment portfolio, making the stock its 19th largest holding. Armistice Capital LLC owned 1.73% of PENN Entertainment worth $51,156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings 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 purchasing an additional 1,009 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of PENN Entertainment in the 4th quarter valued at approximately $40,000. J.Safra Asset Management Corp purchased a new stake in shares of PENN Entertainment in the second quarter valued at approximately $83,000. TFO Wealth Partners LLC grew its holdings in PENN Entertainment by 123,033.3% during the fourth quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock worth $96,000 after acquiring an additional 3,691 shares during the period. Finally, Blue Trust Inc. raised its position in PENN Entertainment by 18.3% in the second quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock worth $183,000 after acquiring an additional 1,555 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling at PENN Entertainment

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

PENN Entertainment Stock Down 0.6 %

PENN opened at $18.70 on Thursday. The business’s fifty day simple moving average is $18.88 and its 200 day simple moving average is $18.00. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $27.20. The firm has a market cap of $2.85 billion, a P/E ratio of -2.51 and a beta of 2.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.35.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating 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 business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the business posted $0.48 earnings per share. The company’s revenue was down .7% on a year-over-year basis. As a group, equities research analysts anticipate that PENN Entertainment, Inc. will post -1.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PENN has been the topic of several research analyst reports. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Morgan Stanley decreased their price objective on shares of PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Craig Hallum upgraded shares of PENN Entertainment from a “hold” rating to a “buy” rating and upped their target price for the stock from $20.00 to $30.00 in a research report on Friday, June 21st. Stifel Nicolaus lifted their price target on shares of PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Barclays upped their price target on PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.