Shapiro Capital Management LLC Sells 83,969 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Shapiro Capital Management LLC reduced its stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 1.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,873,932 shares of the company’s stock after selling 83,969 shares during the period. PENN Entertainment makes up approximately 4.6% of Shapiro Capital Management LLC’s holdings, making the stock its 4th biggest holding. Shapiro Capital Management LLC owned 4.50% of PENN Entertainment worth $136,241,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. DME Capital Management LP grew its stake in shares of PENN Entertainment by 2.3% in the fourth quarter. DME Capital Management LP now owns 5,748,440 shares of the company’s stock valued at $113,934,000 after buying an additional 127,670 shares in the last quarter. Invesco Ltd. grew its stake in shares of PENN Entertainment by 28.0% in the fourth quarter. Invesco Ltd. now owns 3,882,009 shares of the company’s stock valued at $76,941,000 after buying an additional 848,066 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of PENN Entertainment by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 2,500,342 shares of the company’s stock valued at $49,572,000 after buying an additional 152,791 shares in the last quarter. Kettle Hill Capital Management LLC grew its stake in shares of PENN Entertainment by 43.1% in the fourth quarter. Kettle Hill Capital Management LLC now owns 1,801,787 shares of the company’s stock valued at $35,711,000 after buying an additional 542,585 shares in the last quarter. Finally, Contrarius Group Holdings Ltd bought a new position in shares of PENN Entertainment in the fourth quarter valued at $34,994,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PENN has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Macquarie reaffirmed an “outperform” rating and set a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, February 28th. StockNews.com raised shares of PENN Entertainment from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Needham & Company LLC dropped their target price on PENN Entertainment from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Benchmark reissued a “hold” rating on shares of PENN Entertainment in a report on Monday, March 3rd. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, PENN Entertainment currently has an average rating of “Hold” and an average price target of $22.91.

PENN Entertainment Stock Performance

PENN Entertainment stock opened at $15.81 on Friday. PENN Entertainment, Inc. has a 12-month low of $13.25 and a 12-month high of $23.08. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The business’s 50-day moving average price is $15.76 and its two-hundred day moving average price is $18.68. The stock has a market cap of $2.38 billion, a PE ratio of -4.45, a P/E/G ratio of 1.55 and a beta of 1.81.

PENN Entertainment (NASDAQ:PENN) last released its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.04. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted ($0.76) earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, analysts expect 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.