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- Penn Entertainment (NASDAQ:PENN) rose 6.2% on some speculation of a potential activist investor after a Goldman Sachs 13-F filing.
- The disclosure that Goldman Sachs purchased 4.5 million shares in Q3, or about a 3% stake, could be a sign of an activist, Gordon Haskett highlighted in a note on Monday.
- The Goldman Sachs purchase may be noteworthy because prime brokerage sometimes acts as counterparties for activist swap positions.
- Penn Entertainment, whose shares have dropped 30% this year, reported Q3 results earlier this month.