PENN Entertainment, Inc. (NASDAQ:PENN) Director Acquires $307,400.00 in Stock

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

PENN Entertainment Stock Down 1.6 %

Shares of PENN traded down $0.25 during trading hours on Wednesday, hitting $15.66. The company had a trading volume of 8,405,649 shares, compared to its average volume of 5,938,614. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -2.10 and a beta of 2.06. The firm has a fifty day moving average price of $17.38 and a 200-day moving average price of $21.10. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $29.38. 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 (NASDAQ:PENN) last issued its earnings results 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). The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. On average, equities research analysts forecast that PENN Entertainment, Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PENN. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research note on Friday, May 3rd. Craig Hallum lowered their price objective on PENN Entertainment from $25.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Stifel Nicolaus cut their target price on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Morgan Stanley boosted their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Canaccord Genuity Group reduced their price target on PENN Entertainment from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, PENN Entertainment currently has an average rating of “Hold” and a consensus target price of $25.92.

Hedge Funds Weigh In On PENN Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PENN. Harbor Investment Advisory LLC purchased a new position in shares of PENN Entertainment in the fourth quarter worth $32,000. Huntington National Bank raised its holdings in shares of PENN Entertainment by 324.8% during the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in PENN Entertainment by 57.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after purchasing an additional 553 shares during the last quarter. Neo Ivy Capital Management bought a new stake in PENN Entertainment in the 4th quarter worth approximately $40,000. Finally, Signaturefd LLC raised its stake in PENN Entertainment by 60.8% during the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after buying an additional 727 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

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.