Bamco Inc. NY Has $6.44 Million Stock Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Bamco Inc. NY decreased its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 93.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 353,399 shares of the company’s stock after selling 4,789,345 shares during the period. Bamco Inc. NY owned approximately 0.23% of PENN Entertainment worth $6,435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Investment Advisory LLC acquired a new stake in shares of PENN Entertainment in the fourth quarter worth $32,000. Lindbrook Capital LLC lifted its position in PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after purchasing an additional 553 shares during the period. Neo Ivy Capital Management bought a new position in PENN Entertainment in the fourth quarter worth $40,000. Rakuten Securities Inc. bought a new position in PENN Entertainment in the fourth quarter worth $78,000. Finally, TFO Wealth Partners LLC lifted its position in PENN Entertainment by 123,033.3% in the fourth quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock worth $96,000 after purchasing an additional 3,691 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Transactions at PENN Entertainment

In related news, CFO Felicia Hendrix bought 16,157 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the transaction, the chief financial officer now owns 68,596 shares of the company’s stock, valued at $1,061,180.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Felicia Hendrix bought 16,157 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $15.47 per share, for a total transaction of $249,948.79. Following the transaction, the chief financial officer now owns 68,596 shares of the company’s stock, valued at $1,061,180.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David A. Handler bought 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were bought at an average price of $14.94 per share, with a total value of $597,600.00. Following the completion of the transaction, 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 ninety days, insiders purchased 76,157 shares of company stock worth $1,154,949. 2.19% of the stock is currently owned by company insiders.

PENN Entertainment Trading Up 1.9 %

PENN stock traded up $0.37 during midday trading on Monday, reaching $20.08. The stock had a trading volume of 1,775,511 shares, compared to its average volume of 6,058,209. The business has a fifty day simple moving average of $18.16 and a two-hundred day simple moving average of $18.56. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -2.65 and a beta of 2.11. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $29.38.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on PENN shares. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Friday, May 3rd. Mizuho raised their target price on PENN Entertainment from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a report on Tuesday, June 4th. Bank of America cut PENN Entertainment from a “buy” rating to a “neutral” rating and cut their price objective for the company from $28.00 to $17.50 in a report on Monday, May 13th. Finally, Wells Fargo & Company cut their price objective on PENN Entertainment from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, May 3rd. One equities 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. According to MarketBeat.com, PENN Entertainment has a consensus rating of “Hold” and an average target price of $25.03.

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.