PENN Entertainment, Inc. (NASDAQ:PENN – Get Free Report) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 25,090,000 shares, a decline 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. Currently, 16.6% of the shares of the company are sold short.
PENN Entertainment Stock Performance
Shares of PENN Entertainment stock traded down $0.57 on Monday, reaching $18.78. The stock had a trading volume of 5,563,462 shares, compared to its average volume of 6,376,922. The business’s 50-day moving average price is $16.99 and its two-hundred day moving average price is $19.35. The company has a debt-to-equity ratio of 2.33, a quick ratio of 1.04 and a current ratio of 1.04. PENN Entertainment has a fifty-two week low of $13.50 and a fifty-two week high of $29.38. The stock has a market cap of $2.86 billion, a P/E ratio of -2.52 and a beta of 2.11.
PENN Entertainment (NASDAQ:PENN – Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.20). The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. On average, sell-side analysts forecast that PENN Entertainment will post -1.35 EPS for the current year.
Wall Street Analyst Weigh In
Read Our Latest Report on PENN
Insider Buying and Selling at PENN Entertainment
In other news, CFO Felicia Hendrix bought 16,157 shares of PENN Entertainment stock in a transaction on Monday, May 6th. The stock was purchased at an average cost of $15.47 per share, with a total value of $249,948.79. Following the purchase, the chief financial officer now directly owns 68,596 shares of the company’s stock, valued at approximately $1,061,180.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director David A. Handler purchased 40,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 283,450 shares of the company’s stock, valued at $4,234,743. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Felicia Hendrix purchased 16,157 shares of the company’s stock in a transaction on Monday, May 6th. The shares were bought at an average price of $15.47 per share, for a total transaction of $249,948.79. Following the completion of the transaction, the chief financial officer now directly owns 68,596 shares in the company, valued at approximately $1,061,180.12. The disclosure for this purchase can be found here. Insiders bought 76,157 shares of company stock valued at $1,154,949 in the last ninety days. Company insiders own 2.19% of the company’s stock.
Hedge Funds Weigh In On PENN Entertainment
A number of hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of PENN Entertainment in the 4th quarter worth about $42,758,000. ING Groep NV bought a new stake in shares of PENN Entertainment in the 4th quarter worth about $32,556,000. Kettle Hill Capital Management LLC bought a new stake in shares of PENN Entertainment in the 3rd quarter worth about $19,792,000. Invenomic Capital Management LP grew its holdings in shares of PENN Entertainment by 71.9% in the 1st quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock worth $34,313,000 after purchasing an additional 787,968 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of PENN Entertainment by 52.8% in the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after purchasing an additional 725,221 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.
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.
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