Fox Run Management L.L.C. Purchases New Position in PENN Entertainment, Inc. $PENN

Fox Run Management L.L.C. acquired a new position in PENN Entertainment, Inc. (NASDAQ:PENN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 41,682 shares of the company’s stock, valued at approximately $745,000.

Several other hedge funds have also recently made changes to their positions in the business. Parallel Advisors LLC lifted its stake in PENN Entertainment by 152.2% in the second quarter. Parallel Advisors LLC now owns 1,397 shares of the company’s stock worth $25,000 after acquiring an additional 843 shares during the period. Quarry LP bought a new position in PENN Entertainment in the 1st quarter worth $30,000. State of Wyoming purchased a new stake in shares of PENN Entertainment in the 1st quarter worth about $46,000. Ancora Advisors LLC boosted its stake in shares of PENN Entertainment by 208.8% during the 1st quarter. Ancora Advisors LLC now owns 6,855 shares of the company’s stock valued at $112,000 after purchasing an additional 4,635 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of PENN Entertainment by 1,371.6% during the 1st quarter. Signaturefd LLC now owns 7,211 shares of the company’s stock valued at $118,000 after purchasing an additional 6,721 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup restated an “outperform” rating on shares of PENN Entertainment in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft lowered their target price on PENN Entertainment from $19.00 to $17.00 and set a “hold” rating for the company in a research note on Friday. Wall Street Zen cut PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of PENN Entertainment in a research report on Wednesday. Finally, Barclays reduced their target price on shares of PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, PENN Entertainment currently has an average rating of “Hold” and an average price target of $22.56.

PENN Entertainment Trading Down 0.8%

PENN Entertainment stock opened at $14.54 on Monday. PENN Entertainment, Inc. has a 12 month low of $13.25 and a 12 month high of $23.08. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -25.96 and a beta of 1.53. The business’s fifty day simple moving average is $18.22 and its two-hundred day simple moving average is $17.51. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.12). PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm earned ($0.24) EPS. PENN Entertainment’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities analysts predict that PENN Entertainment, Inc. will post -1.61 earnings per share for the current fiscal year.

About PENN Entertainment

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.