PENN Entertainment, Inc. (NASDAQ:PENN) is Shapiro Capital Management LLC's 7th Largest Position

Shapiro Capital Management LLC lowered its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 33.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,869,875 shares of the company's stock after selling 3,399,643 shares during the quarter. PENN Entertainment accounts for 4.0% of Shapiro Capital Management LLC's holdings, making the stock its 7th largest holding. Shapiro Capital Management LLC owned 4.50% of PENN Entertainment worth $132,966,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PENN. Vanguard Group Inc. boosted its position in shares of PENN Entertainment by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 14,789,817 shares of the company's stock worth $269,323,000 after purchasing an additional 59,897 shares during the period. Earnest Partners LLC boosted its position in shares of PENN Entertainment by 4.0% during the first quarter. Earnest Partners LLC now owns 3,938,133 shares of the company's stock worth $71,713,000 after buying an additional 151,025 shares during the period. Sei Investments Co. boosted its position in shares of PENN Entertainment by 3.7% during the second quarter. Sei Investments Co. now owns 2,461,074 shares of the company's stock worth $47,634,000 after buying an additional 88,797 shares during the period. Invenomic Capital Management LP grew its stake in shares of PENN Entertainment by 71.9% in the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company's stock valued at $34,313,000 after buying an additional 787,968 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of PENN Entertainment in the 4th quarter valued at $42,758,000. Institutional investors and hedge funds own 91.69% of the company's stock.

Insider Activity at PENN Entertainment

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Needham & Company LLC restated a "buy" rating and set a $26.00 target price on shares of PENN Entertainment in a report on Thursday, August 8th. Truist Financial lifted their price objective on shares of PENN Entertainment from $23.00 to $25.00 and gave the company a "buy" rating in a report on Friday, June 14th. Craig Hallum upgraded shares of PENN Entertainment from a "hold" rating to a "buy" rating and increased their target price for the stock from $20.00 to $30.00 in a report on Friday, June 21st. Barclays raised their price target on shares of PENN Entertainment from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Friday, August 9th. Finally, Susquehanna reaffirmed a "positive" rating and set a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, June 21st. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $23.77.

PENN Entertainment Stock Down 3.6 %

PENN Entertainment stock traded down $0.70 during mid-day trading on Tuesday, hitting $18.81. The company had a trading volume of 3,469,843 shares, compared to its average volume of 5,516,268. 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, Inc. has a 1 year low of $13.50 and a 1 year high of $27.20. The business has a fifty day moving average of $18.89 and a 200 day moving average of $17.99. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -2.52 and a beta of 2.10.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its 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 firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The company's revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $0.48 EPS. On average, sell-side analysts expect that PENN Entertainment, Inc. will post -1.41 earnings per share for the current fiscal year.

PENN Entertainment Company 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.