Insider Buying: PENN Entertainment, Inc. (NASDAQ:PENN) CFO Purchases 16,157 Shares of Stock

PENN Entertainment, Inc. (NASDAQ:PENN) CFO Felicia Hendrix acquired 16,157 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average cost of $15.47 per share, with a total value of $249,948.79. Following the completion of the purchase, the chief financial officer now owns 68,596 shares of the company’s stock, valued at $1,061,180.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PENN Entertainment Price Performance

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

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share 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 during the quarter, compared to analyst estimates of $1.54 billion. On average, sell-side analysts forecast that PENN Entertainment, Inc. will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Mizuho increased their price target on shares of PENN Entertainment from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. JMP Securities reissued a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, April 23rd. Morgan Stanley increased their price target 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. Benchmark reissued a “hold” rating on shares of PENN Entertainment in a research report on Friday, May 3rd. Finally, StockNews.com lowered shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, PENN Entertainment presently has a consensus 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 bought and sold shares of PENN. Huntington National Bank increased its holdings in PENN Entertainment by 324.8% in the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after buying an additional 1,072 shares during the period. Harbor Investment Advisory LLC acquired a new position in PENN Entertainment in the 4th quarter worth approximately $32,000. Lindbrook Capital LLC grew its stake in shares of PENN Entertainment by 57.1% during the 4th 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 period. Neo Ivy Capital Management acquired a new stake in shares of PENN Entertainment during the 4th quarter worth approximately $40,000. Finally, Signaturefd LLC grew its stake in shares of PENN Entertainment by 60.8% during the 3rd quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock worth $44,000 after purchasing an additional 727 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.