Wolverine Asset Management LLC Boosts Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Wolverine Asset Management LLC increased its stake in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 112.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,745 shares of the company's stock after acquiring an additional 30,617 shares during the period. Wolverine Asset Management LLC's holdings in PENN Entertainment were worth $1,089,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PENN. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of PENN Entertainment by 4,624.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company's stock worth $28,183,000 after purchasing an additional 1,425,274 shares during the period. Assenagon Asset Management S.A. grew its position in shares of PENN Entertainment by 1,051.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company's stock worth $26,809,000 after buying an additional 1,297,976 shares during the last quarter. Armistice Capital LLC increased its stake in shares of PENN Entertainment by 91.9% during the second quarter. Armistice Capital LLC now owns 2,643,060 shares of the company's stock valued at $51,156,000 after buying an additional 1,266,023 shares during the period. Invenomic Capital Management LP increased its stake in shares of PENN Entertainment by 71.9% during 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 during the period. Finally, National Bank of Canada FI lifted its stake in PENN Entertainment by 284.6% in the first 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 during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PENN. Craig Hallum reissued a "buy" rating and set a $30.00 price objective on shares of PENN Entertainment in a research report on Tuesday, October 8th. Stifel Nicolaus boosted their price target on shares of PENN Entertainment from $19.00 to $20.00 and gave the company a "hold" rating in a research report on Friday, August 9th. Wells Fargo & Company increased 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 note on Thursday, October 17th. Macquarie lifted their price objective on PENN Entertainment from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $26.00 target price on shares of PENN Entertainment in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $23.29.

Insiders Place Their Bets

In other PENN Entertainment news, Director David A. Handler bought 10,000 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was acquired at an average price of $17.51 per share, with a total value of $175,100.00. Following the transaction, the director now owns 293,450 shares in the company, valued at $5,138,309.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director David A. Handler purchased 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $17.51 per share, with a total value of $175,100.00. Following the acquisition, the director now directly owns 293,450 shares of the company's stock, valued at $5,138,309.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anuj Dhanda acquired 15,000 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $18.40 per share, with a total value of $276,000.00. Following the acquisition, the director now directly owns 31,523 shares of the company's stock, valued at $580,023.20. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 79,200 shares of company stock valued at $1,450,548. Corporate insiders own 2.19% of the company's stock.

PENN Entertainment Stock Down 1.4 %

PENN stock traded down $0.31 during trading on Wednesday, hitting $21.23. 2,392,402 shares of the stock traded hands, compared to its average volume of 5,092,648. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of -6.05 and a beta of 2.09. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $27.20. The firm's 50 day moving average is $19.12 and its two-hundred day moving average is $18.40.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The business's revenue for the quarter was up 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that PENN Entertainment, Inc. will post -1.5 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.