David A. Handler Purchases 20,000 Shares of PENN Entertainment, Inc. (NASDAQ:PENN) Stock

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

PENN Entertainment Stock Up 3.7 %

Shares of NASDAQ PENN opened at $16.24 on Friday. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $29.38. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. The company’s 50-day simple moving average is $17.29 and its 200-day simple moving average is $21.03. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -2.18 and a beta of 2.06.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PENN shares. Barclays cut their price objective on shares of PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research report on Friday, May 3rd. Stifel Nicolaus decreased their price objective on PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 target price on shares of PENN Entertainment in a research note on Thursday, May 2nd. Finally, Canaccord Genuity Group decreased 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 report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $25.92.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of PENN. Norges Bank purchased a new stake in shares of PENN Entertainment in the fourth quarter valued at approximately $42,758,000. ING Groep NV purchased a new stake in PENN Entertainment in the 4th quarter valued at $32,556,000. Kettle Hill Capital Management LLC acquired a new stake in shares of PENN Entertainment in the 3rd quarter worth $19,792,000. Sei Investments Co. raised its holdings in shares of PENN Entertainment by 52.8% during the 4th quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after acquiring an additional 725,221 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of PENN Entertainment during the 4th quarter valued at about $16,341,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.