PENN Entertainment, Inc. (NASDAQ:PENN) Director David A. Handler Acquires 20,000 Shares

PENN Entertainment, Inc. (NASDAQ:PENN) Director David A. Handler acquired 20,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $15.37 per share, with a total value of $307,400.00. Following the acquisition, the director now owns 243,450 shares in the company, valued at approximately $3,741,826.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PENN Entertainment Stock Performance

Shares of PENN stock traded down $0.25 during trading hours on Wednesday, hitting $15.66. The stock had a trading volume of 8,405,649 shares, compared to its average volume of 5,938,614. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $2.39 billion, a PE ratio of -2.10 and a beta of 2.06. The stock’s 50 day moving average is $17.38 and its 200 day moving average is $21.10. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $29.38.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data on Thursday, February 15th. The company reported ($1.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($1.18). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, research analysts forecast that PENN Entertainment, Inc. will post -0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PENN has been the subject of several recent research reports. Morgan Stanley increased their price target on PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Wells Fargo & Company lowered their price target on shares of PENN Entertainment from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of PENN Entertainment in a research report on Thursday, May 2nd. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a report on Tuesday, April 23rd. Finally, Canaccord Genuity Group dropped their price target on shares of PENN Entertainment from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $25.92.

Institutional Trading of PENN Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kettle Hill Capital Management LLC acquired a new position in shares of PENN Entertainment in the third quarter valued at approximately $19,792,000. Fred Alger Management LLC purchased a new stake in PENN Entertainment in the 3rd quarter valued at approximately $1,750,000. Sei Investments Co. raised its stake in shares of PENN Entertainment by 13.9% during the 3rd quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock worth $31,510,000 after buying an additional 167,445 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of PENN Entertainment by 20.0% in the 4th quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock valued at $140,000 after buying an additional 896 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in shares of PENN Entertainment by 126.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 123,706 shares of the company’s stock valued at $3,219,000 after buying an additional 69,020 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

PENN Entertainment Company Profile

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.