Dimensional Fund Advisors LP Buys 17,622 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Dimensional Fund Advisors LP grew its stake in PENN Entertainment, Inc. (NASDAQ:PENNFree Report) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,138,297 shares of the company’s stock after purchasing an additional 17,622 shares during the quarter. Dimensional Fund Advisors LP owned about 0.75% of PENN Entertainment worth $29,623,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Huntington National Bank increased its stake in shares of 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 acquiring an additional 1,072 shares in the last quarter. Harbor Investment Advisory LLC bought a new position in shares of PENN Entertainment in the 4th quarter worth about $32,000. Lindbrook Capital LLC increased its stake in shares of PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after acquiring an additional 553 shares in the last quarter. Tyler Stone Wealth Management increased its stake in shares of PENN Entertainment by 34.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 1,971 shares of the company’s stock worth $45,000 after acquiring an additional 500 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of PENN Entertainment in the 3rd quarter worth about $55,000. 91.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other PENN Entertainment news, Director David A. Handler acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $15.37 per share, with a total value of $307,400.00. Following the completion of the acquisition, the director now owns 243,450 shares in the company, valued at approximately $3,741,826.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director David A. Handler bought 20,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were bought at an average price of $15.37 per share, for a total transaction of $307,400.00. Following the purchase, the director now owns 243,450 shares in the company, valued at $3,741,826.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Felicia Hendrix bought 16,157 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were purchased at an average price of $15.47 per share, for a total transaction of $249,948.79. Following the purchase, the chief financial officer now owns 68,596 shares in the company, valued at approximately $1,061,180.12. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 76,157 shares of company stock valued at $1,154,949. 2.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PENN shares. Morgan Stanley increased their price target on shares of PENN Entertainment from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Stifel Nicolaus cut their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Truist Financial raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, April 23rd. Raymond James assumed coverage on shares of PENN Entertainment in a research report on Tuesday, May 21st. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $26.00 price objective on shares of PENN Entertainment in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $24.30.

Check Out Our Latest Report on PENN

PENN Entertainment Stock Performance

PENN opened at $17.50 on Monday. 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 $2.67 billion, a price-to-earnings ratio of -2.35 and a beta of 2.06. The company’s 50 day moving average is $16.61 and its 200 day moving average is $20.38. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $29.38.

PENN Entertainment (NASDAQ:PENNGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.20). The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 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 predict that PENN Entertainment, Inc. will post -1.35 EPS for the current year.

PENN Entertainment Profile

(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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Institutional Ownership by Quarter for PENN Entertainment (NASDAQ:PENN)

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