Dimensional Fund Advisors LP Has $25.14 Million Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Dimensional Fund Advisors LP boosted its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,299,014 shares of the company’s stock after buying an additional 30,932 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.85% of PENN Entertainment worth $25,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PENN. Invenomic Capital Management LP lifted its holdings in PENN Entertainment by 71.9% during the 1st quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock worth $34,313,000 after buying an additional 787,968 shares during the period. Sei Investments Co. raised its position in shares of PENN Entertainment by 52.8% in the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after acquiring an additional 725,221 shares in the last quarter. National Bank of Canada FI raised its position in shares of PENN Entertainment by 284.6% in the 1st quarter. National Bank of Canada FI now owns 968,514 shares of the company’s stock worth $17,637,000 after acquiring an additional 716,686 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of PENN Entertainment in the 4th quarter worth about $16,341,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of PENN Entertainment by 192.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 303,089 shares of the company’s stock worth $5,866,000 after acquiring an additional 199,465 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler bought 10,000 shares of the business’s stock in a transaction dated 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 purchase, the director now directly owns 293,450 shares of the company’s stock, valued at $5,138,309.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other PENN Entertainment news, Director David A. Handler bought 10,000 shares of the business’s stock in a transaction dated 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 purchase, the director now directly owns 293,450 shares of the company’s stock, valued at $5,138,309.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anuj Dhanda bought 15,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the purchase, the director now directly owns 31,523 shares in the company, valued at $580,023.20. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 79,200 shares of company stock worth $1,450,548. Insiders own 2.19% of the company’s stock.

PENN Entertainment Price Performance

PENN stock opened at $18.35 on Thursday. The company has a market capitalization of $2.80 billion, a P/E ratio of -2.46 and a beta of 2.10. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $27.20. The business has a 50-day simple moving average of $18.89 and a two-hundred day simple moving average of $18.00.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (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%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. Research analysts expect that PENN Entertainment, Inc. will post -1.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PENN. Susquehanna reissued a “positive” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, June 21st. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on PENN Entertainment from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Macquarie reissued an “outperform” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, August 9th. Finally, Barclays lifted their price objective on PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.