Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Penn Entertainment Inc (PENN)

371 + Investors. Track Smart Money conviction in PENN. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +1
Streak
3Q ▲
Buyers last Q
52%

Smart Money Signals — PENN

Based on 379 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds added PENN than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
📊

High ownership — 92% of 3.0Y peak

92% of all-time peak
379 funds currently hold this stock — 92% of the 3.0-year high of 414 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding PENN is almost the same as a year ago (+4 funds, +1% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡

Slight buying edge — 52% buying

203 buying185 selling
Last quarter: 203 funds bought or added vs 185 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~74 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 41 → 70 → 75 → 74. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

67% of holders stayed for 2+ years

■ 67% conviction (2yr+) ■ 15% medium ■ 18% new
254 out of 379 hedge funds have held PENN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰

Price up while funds trimmed (+43% value, -33% shares)

Value
+42%
Shares
-33%
Last quarter: total value of institutional PENN holdings rose +43% even though funds reduced share count by 33%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📈

Growing discovery — still being found

50 → 41 → 70 → 75 → 74 new funds/Q
New funds entering each quarter: 41 → 70 → 75 → 74. A growing number of institutions are discovering PENN each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 73% veterans vs 19% newcomers

■ 73% veterans ■ 8% 1-2yr ■ 19% new
Entry-cohort mix of 395 holders: 289 (73%) are 2+ year veterans, 31 entered 1–2 years ago, and 75 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 51% AUM from top-100 funds

51% from top-100 AUM funds
53 of 374 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in PENN. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.1
out of 10
Low Exit Risk
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — PENN

In 2026 Q2, 203 hedge funds were net buyers of PENN (74 opened a new position, 129 added to an existing one), while 185 reduced or exited (112 trimmed, 73 sold completely) — a 52% buyer ratio, indicating a slight buying edge. This marks 3 consecutive quarters of net institutional buying — a persistent conviction signal. 51% of total institutional value in PENN is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +1 funds (more new holders than closures). Total institutional holders: 379.

Hedge Fund Ownership: PENN

How many hedge funds hold PENN — quarterly history vs. share price
Quarterly hedge fund ownership of PENN vs. share price

Market Analysis: PENN

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: PENN

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Penn Entertainment Inc (PENN) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much PENN has moved relative to its sector benchmark (XLY) since the 2026 Q2 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End June 30, 2026 · 82d ago
PENN
-23.0%
XLY
-5.3%

PENN outperformed XLY by -17.7% since June 30, 2026.

Since 13F Filing Date August 14, 2026 · 37d ago
PENN
-12.5%
XLY
-6.1%

Since the filing became public, PENN outperformed XLY by -6.4% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

15 top-rated funds 3 high-conviction
Consensus
5.2
/ 10
breadth
×
Elite
2.6
/ 10
conviction
Hedge Fund Positioning: PENN
371 + Investors

Track Smart Money conviction in PENN. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 371 378 -1.85%
13F Shares 145M 221M -34.41%
Total Value $3.06B $2.24B 36.49%
New Positions 73 75 -2
Increased Positions 121 102 +19
Closed Positions 75 65 +10
Reduced Positions 110 125 -15
Total Calls 11 8 37.5%
Total Puts 10 8 25.0%
PUT/CALL Ratio 0.91 1.0 Neutral

Statistics: PENN

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Valuation Measures Data as of: --

Market Cap --
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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q2)

371 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in PENN. Verified SEC 13F-HR filings.

QUARTER:
Top 25 PENN holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 HG Vora Capital Management, LLC 58.59% 5,398,590 $115.3M
2 Hill Path Capital LP 6.42% 5,759,820 $123.0M
3 Orvieto Partners, L.P. 5.61% 403,400 $8.6M
4 Seven Six Capital Management, LLC 4.21% 215,800 $4.6M
5 Kettle Hill Capital Management, LLC 3.60% 683,963 $14.6M
6 DME Capital Management, LP 3.20% 5,860,270 $125.2M
7 Hedges Asset Management LLC 2.65% 188,900 $4.0M
8 Penn Capital Management Company, LLC 1.61% 1,186,487 $25.4M
9 Hennessy Advisors Inc 1.23% 1,804,900 $38.6M
10 Shapiro Capital Management LLC 1.15% 885,093 $18.9M
11 Invenomic Capital Management LP 0.94% 738,495 $15.8M
12 Earnest Partners LLC 0.43% 5,551,025 $118.6M
13 Prelude Capital Management, LLC 0.34% 221,050 $4.7M
14 Bridgeway Capital Management, LLC 0.33% 892,114 $19.1M
15 nVerses Capital, LLC 0.31% 9,449 $202K
16 Clearline Capital LP 0.24% 187,594 $4.0M
17 Shellback Capital, LP 0.23% 125,000 $2.7M
18 Castleark Management LLC 0.20% 351,920 $7.5M
19 Sage Investment Advisers LLC 0.20% 13,990 $299K
20 Peregrine Capital Management LLC 0.19% 276,662 $5.9M
21 Lighthouse Investment Partners, LLC 0.18% 310,490 $6.6M
22 Armistice Capital, LLC 0.18% 672,000 $14.4M
23 Edgestream Partners, L.P. 0.17% 268,604 $5.7M
24 Bayforest Capital Ltd 0.17% 8,376 $179K
25 Acorn Financial Advisory Services Inc /Adv 0.16% 57,772 $1.2M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Penn Entertainment Inc (PENN)

What does the Smart Money Trend signal show for PENN?

Buying streak — 3 quarters in a row: For 3 consecutive quarters, more hedge funds added PENN than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for PENN?

Slight buying edge — 52% buying: Last quarter: 203 funds bought or added vs 185 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for PENN holders?

Elite ownership — 51% AUM from top-100 funds: 53 of 374 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in PENN. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held PENN?

67% of holders stayed for 2+ years: 254 out of 379 hedge funds have held PENN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Penn Entertainment Inc (PENN) following the 2026 Q2 hedge fund 13F filings?

As of today, PENN has moved -12.5% since the 2026 Q2 13F filing date (August 14, 2026), compared to -6.1% for the XLY sector ETF — an outperformance of -6.4%. Since the quarter end (June 30, 2026), PENN has gained -23.0% vs -5.3% for XLY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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