PENN Entertainment, Inc. (NASDAQ:PENN) is DME Capital Management LP's 6th Largest Position

DME Capital Management LP increased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,095,340 shares of the company's stock after acquiring an additional 540,630 shares during the quarter. PENN Entertainment makes up about 4.8% of DME Capital Management LP's holdings, making the stock its 6th biggest position. DME Capital Management LP owned 3.34% of PENN Entertainment worth $98,620,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. increased its stake in PENN Entertainment by 7.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company's stock valued at $252,000 after buying an additional 632 shares during the period. United Services Automobile Association increased 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 period. Aaron Wealth Advisors LLC increased 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 period. Arizona State Retirement System increased its stake in PENN Entertainment by 2.5% in the 2nd 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 increased its stake in PENN Entertainment by 233.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock valued at $28,000 after buying an additional 1,009 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PENN has been the topic of several recent research reports. Macquarie reissued an "outperform" rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, August 9th. Raymond James lowered shares of PENN Entertainment from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 25th. JMP Securities restated a "market perform" rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Needham & Company LLC restated a "buy" rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Thursday, August 8th. Finally, Stifel Nicolaus boosted their target price on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $23.77.

Insider Activity at PENN Entertainment

In other news, Director David A. Handler bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $17.51 per share, with a total value of $175,100.00. Following the purchase, the director now owns 293,450 shares of the company's stock, valued at approximately $5,138,309.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director David A. Handler acquired 10,000 shares of the company'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 purchase, the director now directly owns 293,450 shares in the company, valued at approximately $5,138,309.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jay A. Snowden acquired 54,200 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $18.44 per share, with a total value of $999,448.00. Following the purchase, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. The disclosure for this purchase can be found here. In the last quarter, insiders bought 79,200 shares of company stock valued at $1,450,548. 2.19% of the stock is owned by insiders.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock traded up $0.34 on Thursday, hitting $19.04. The company's stock had a trading volume of 3,509,004 shares, compared to its average volume of 5,502,811. The firm has a fifty day moving average price of $18.88 and a 200-day moving average price of $18.00. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $27.20. The company has a market capitalization of $2.90 billion, a P/E ratio of -2.56 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 - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The firm's revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts expect that PENN Entertainment, Inc. will post -1.32 earnings per share 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.