David A. Handler Buys 40,000 Shares of PENN Entertainment, Inc. (NASDAQ:PENN) Stock

PENN Entertainment, Inc. (NASDAQ:PENNGet Free Report) Director David A. Handler acquired 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average price of $14.94 per share, for a total transaction of $597,600.00. Following the acquisition, the director now directly owns 283,450 shares in the company, valued at approximately $4,234,743. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PENN Entertainment Stock Up 19.6 %

PENN Entertainment stock opened at $17.50 on Friday. The company has a market capitalization of $2.67 billion, a P/E ratio of -2.35 and a beta of 2.06. 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, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $29.38. The stock has a 50-day simple moving average of $16.61 and a 200-day simple moving average of $20.41.

PENN Entertainment (NASDAQ:PENNGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. PENN Entertainment had a negative net margin of 17.77% and a negative return on equity of 3.53%. Equities research analysts expect that PENN Entertainment, Inc. will post -1.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of PENN Entertainment in the fourth quarter valued at about $42,758,000. ING Groep NV acquired a new stake in PENN Entertainment during the 4th quarter worth approximately $32,556,000. Kettle Hill Capital Management LLC purchased a new position in shares of PENN Entertainment in the 3rd quarter valued at approximately $19,792,000. Invenomic Capital Management LP increased its holdings in shares of PENN Entertainment by 71.9% in the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock valued at $34,313,000 after purchasing an additional 787,968 shares during the period. Finally, Sei Investments Co. raised its stake in shares of PENN Entertainment by 52.8% during the fourth quarter. Sei Investments Co. now owns 2,098,203 shares of the company’s stock worth $54,595,000 after purchasing an additional 725,221 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, April 23rd. Morgan Stanley increased their target price on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Raymond James assumed coverage on shares of PENN Entertainment in a research note on Tuesday, May 21st. They issued an “outperform” rating and a $20.00 price target for the company. Benchmark reaffirmed a “hold” rating on shares of PENN Entertainment in a research report on Friday, May 3rd. Finally, Bank of America downgraded PENN Entertainment from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $28.00 to $17.50 in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.30.

Read Our Latest Report on PENN

PENN Entertainment Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for PENN Entertainment (NASDAQ:PENN)

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