PENN Entertainment, Inc. (NASDAQ:PENN) Short Interest Update

PENN Entertainment, Inc. (NASDAQ:PENN) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totalling 25,090,000 shares, a decrease of 14.2% from the May 31st total of 29,250,000 shares. Based on an average daily volume of 7,040,000 shares, the short-interest ratio is currently 3.6 days. Approximately 16.6% of the shares of the stock are short sold.

Insider Buying and Selling

In related news, CFO Felicia Hendrix acquired 16,157 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $15.47 per share, with a total value of $249,948.79. Following the acquisition, the chief financial officer now owns 68,596 shares of the company’s stock, valued at approximately $1,061,180.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Felicia Hendrix acquired 16,157 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $15.47 per share, with a total value of $249,948.79. Following the acquisition, the chief financial officer now owns 68,596 shares of the company’s stock, valued at approximately $1,061,180.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Handler acquired 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average cost of $14.94 per share, for a total transaction of $597,600.00. Following the acquisition, the director now directly owns 283,450 shares in the company, valued at approximately $4,234,743. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 76,157 shares of company stock valued at $1,154,949. Corporate insiders own 2.19% of the company’s stock.

Institutional Investors Weigh In On PENN Entertainment

Large investors have recently made changes to their positions in the business. Harbor Investment Advisory LLC purchased a new position in shares of PENN Entertainment in the 4th quarter valued at approximately $32,000. Lindbrook Capital LLC lifted its stake in shares of PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after purchasing an additional 553 shares during the period. Neo Ivy Capital Management purchased a new position in shares of PENN Entertainment in the 4th quarter valued at approximately $40,000. Rakuten Securities Inc. purchased a new position in shares of PENN Entertainment in the 4th quarter valued at approximately $78,000. Finally, TFO Wealth Partners LLC lifted its stake 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 purchasing an additional 3,691 shares during the period. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Trading Down 3.0 %

Shares of PENN stock traded down $0.57 during trading hours on Monday, reaching $18.78. The company’s stock had a trading volume of 5,563,462 shares, compared to its average volume of 6,376,922. The stock has a market capitalization of $2.86 billion, a P/E ratio of -2.52 and a beta of 2.11. PENN Entertainment has a one year low of $13.50 and a one year high of $29.38. The firm’s fifty day simple moving average is $16.99 and its 200 day simple moving average is $19.35. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. Equities research analysts expect that PENN Entertainment will post -1.35 EPS for the current year.

Analyst Upgrades and Downgrades

PENN has been the topic of several recent analyst reports. Canaccord Genuity Group lowered their price target on PENN Entertainment from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Raymond James cut PENN Entertainment from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. StockNews.com cut PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a report on Friday, May 3rd. Finally, Mizuho raised their price target on PENN Entertainment from $29.00 to $32.00 and gave the company a “buy” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, PENN Entertainment currently has an average rating of “Hold” and a consensus price target of $25.10.

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.