PENN Entertainment (NASDAQ:PENN) CFO Buys $100,873.85 in Stock

PENN Entertainment, Inc. (NASDAQ:PENN) CFO Felicia Hendrix acquired 7,315 shares of the stock in a transaction on Friday, November 21st. The shares were bought at an average price of $13.79 per share, for a total transaction of $100,873.85. Following the purchase, the chief financial officer owned 119,448 shares in the company, valued at approximately $1,647,187.92. This trade represents a 6.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $14.73 on Thursday. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -26.30 and a beta of 1.53. PENN Entertainment, Inc. has a fifty-two week low of $13.24 and a fifty-two week high of $23.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a fifty day moving average price of $16.84 and a 200-day moving average price of $17.39.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.12). The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. PENN Entertainment had a negative return on equity of 4.36% and a negative net margin of 1.12%.The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.24) EPS. As a group, equities analysts anticipate that PENN Entertainment, Inc. will post -1.61 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wells Fargo & Company assumed coverage on shares of PENN Entertainment in a research report on Tuesday, November 18th. They issued an “underweight” rating and a $15.00 target price for the company. Wall Street Zen cut shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. JMP Securities boosted their price objective on shares of PENN Entertainment from $24.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday, August 8th. Stifel Nicolaus raised PENN Entertainment from a “hold” rating to a “buy” rating and raised their target price for the company from $19.00 to $21.00 in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of PENN Entertainment in a research note on Monday. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.56.

Hedge Funds Weigh In On PENN Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in PENN. Hill Path Capital LP bought a new stake in shares of PENN Entertainment during the second quarter worth $62,595,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of PENN Entertainment during the 2nd quarter valued at $40,214,000. Norges Bank bought a new stake in PENN Entertainment during the 2nd quarter worth $39,737,000. Invesco Ltd. grew its position in PENN Entertainment by 54.6% during the 1st quarter. Invesco Ltd. now owns 6,002,749 shares of the company’s stock worth $97,905,000 after acquiring an additional 2,120,740 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in PENN Entertainment in the 3rd quarter worth about $40,537,000. Institutional investors 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.