Hudson Bay Capital Management LP Purchases 308,998 Shares of PENN Entertainment, Inc. $PENN

Hudson Bay Capital Management LP boosted its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 18.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,029,843 shares of the company’s stock after acquiring an additional 308,998 shares during the period. Hudson Bay Capital Management LP owned approximately 1.39% of PENN Entertainment worth $36,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Invesco Ltd. lifted its holdings in shares of PENN Entertainment by 54.6% during the 1st quarter. Invesco Ltd. now owns 6,002,749 shares of the company’s stock valued at $97,905,000 after purchasing an additional 2,120,740 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in PENN Entertainment in the second quarter valued at approximately $40,214,000. Norges Bank acquired a new position in shares of PENN Entertainment in the second quarter valued at approximately $39,737,000. Invenomic Capital Management LP raised its holdings in shares of PENN Entertainment by 87.8% during the first quarter. Invenomic Capital Management LP now owns 1,859,112 shares of the company’s stock worth $30,322,000 after acquiring an additional 869,347 shares during the period. Finally, Long Focus Capital Management LLC boosted its stake in PENN Entertainment by 13.9% in the 1st quarter. Long Focus Capital Management LLC now owns 1,760,200 shares of the company’s stock worth $28,709,000 after purchasing an additional 215,200 shares during the period. 91.69% of the stock is currently owned by institutional investors.

PENN Entertainment Stock Performance

Shares of NASDAQ:PENN opened at $14.28 on Friday. PENN Entertainment, Inc. has a 1 year low of $13.24 and a 1 year high of $23.08. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -2.25 and a beta of 1.40. The company has a debt-to-equity ratio of 3.65, a current ratio of 0.75 and a quick ratio of 0.75. The company’s 50 day simple moving average is $15.62 and its 200 day simple moving average is $17.28.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). PENN Entertainment had a negative net margin of 13.24% and a negative return on equity of 4.59%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted ($0.24) EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts predict that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal year.

Insider Activity at PENN Entertainment

In related news, Director Gupta Vimla Black sold 7,987 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $14.51, for a total transaction of $115,891.37. Following the completion of the transaction, the director directly owned 25,000 shares in the company, valued at $362,750. This represents a 24.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Felicia Hendrix bought 7,315 shares of the business’s stock in a transaction on Friday, November 21st. The stock was bought at an average price of $13.79 per share, for a total transaction of $100,873.85. Following the transaction, the chief financial officer directly owned 119,448 shares of the company’s stock, valued at approximately $1,647,187.92. This represents a 6.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 62,015 shares of company stock valued at $882,778. 2.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on PENN shares. Citigroup reiterated a “market outperform” rating on shares of PENN Entertainment in a report on Monday, December 1st. Wells Fargo & Company started coverage on shares of PENN Entertainment in a research report on Tuesday, November 18th. They set an “underweight” rating and a $15.00 price objective for the company. Citizens Jmp dropped their price objective on shares of PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a report on Monday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of PENN Entertainment in a research note on Friday, November 7th. Ten research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.56.

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.