Holocene Advisors LP Has $1.13 Million Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

Holocene Advisors LP cut its position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 63.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,733 shares of the company's stock after selling 103,807 shares during the quarter. Holocene Advisors LP's holdings in PENN Entertainment were worth $1,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in PENN Entertainment by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company's stock valued at $328,000 after buying an additional 665 shares during the last quarter. United Services Automobile Association grew its stake in PENN Entertainment by 6.3% in the 2nd quarter. United Services Automobile Association now owns 12,009 shares of the company's stock valued at $232,000 after buying an additional 712 shares during the last quarter. Aaron Wealth Advisors LLC grew its stake in PENN Entertainment by 6.0% in the 2nd 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 during the last quarter. Arizona State Retirement System grew its position in PENN Entertainment by 2.5% in 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 during the last quarter. Finally, GAMMA Investing LLC grew its position in PENN Entertainment by 233.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock worth $28,000 after purchasing an additional 1,009 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PENN Entertainment

In related news, Director David A. Handler bought 10,000 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was bought 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 owns 293,450 shares in the company, valued at approximately $5,138,309.50. The trade was a 3.53 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PENN has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. JMP Securities restated a "market perform" rating on shares of PENN Entertainment in a research report on Friday, October 4th. Truist Financial decreased their price target on shares of PENN Entertainment from $25.00 to $23.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. Finally, Craig Hallum restated a "buy" rating and issued a $30.00 price target on shares of PENN Entertainment in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, PENN Entertainment has an average rating of "Hold" and a consensus price target of $23.29.

PENN Entertainment Price Performance

PENN stock traded down $0.46 during trading on Friday, hitting $20.74. 2,386,723 shares of the stock traded hands, compared to its average volume of 2,414,964. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $27.20. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -5.84 and a beta of 2.08. The company has a 50 day simple moving average of $19.85 and a 200 day simple moving average of $19.01. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm posted $1.21 EPS. The firm's quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts expect that PENN Entertainment, Inc. will post -1.53 EPS for the current fiscal year.

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.