Long Focus Capital Management LLC Takes Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Long Focus Capital Management LLC acquired a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 600,000 shares of the company's stock, valued at approximately $11,613,000. Long Focus Capital Management LLC owned about 0.39% of PENN Entertainment at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock worth $28,000 after acquiring an additional 1,009 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of PENN Entertainment during the 4th quarter worth approximately $40,000. J.Safra Asset Management Corp acquired a new position in shares of PENN Entertainment in the 2nd quarter valued at $83,000. TFO Wealth Partners LLC grew its position in shares of PENN Entertainment by 123,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company's stock valued at $96,000 after buying an additional 3,691 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in PENN Entertainment by 18.3% during the 2nd 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. Institutional investors and hedge funds own 91.69% of the company's stock.

Insider Buying and Selling

In other news, CEO Jay A. Snowden bought 54,200 shares of PENN Entertainment stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the acquisition, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PENN Entertainment news, Director Anuj Dhanda bought 15,000 shares of PENN Entertainment stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the transaction, the director now owns 31,523 shares of the company's stock, valued at approximately $580,023.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay A. Snowden bought 54,200 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought 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 directly owns 853,045 shares of the company's stock, valued at approximately $15,730,149.80. 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. 2.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PENN has been the topic of several research reports. Craig Hallum raised PENN Entertainment from a "hold" rating to a "buy" rating and raised their price objective for the stock from $20.00 to $30.00 in a report on Friday, June 21st. Truist Financial boosted their price objective on PENN Entertainment from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, June 14th. JMP Securities restated a "market perform" rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a "hold" rating in a research note on Friday, August 9th. Finally, Raymond James lowered PENN Entertainment from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $23.77.

PENN Entertainment Price Performance

NASDAQ PENN traded up $0.24 during trading hours on Friday, reaching $19.28. The company's stock had a trading volume of 2,566,476 shares, compared to its average volume of 5,487,109. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. The company's 50-day moving average is $18.88 and its two-hundred day moving average is $18.00. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The stock has a market cap of $2.94 billion, a PE ratio of -2.58 and a beta of 2.10.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, topping 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 analysts' expectations of $1.65 billion. During the same period last year, the company posted $0.48 EPS. The company's revenue was down .7% on a year-over-year basis. Analysts forecast that PENN Entertainment, Inc. will post -1.32 EPS for the current year.

PENN Entertainment 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.