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

PENN Entertainment, Inc. (NASDAQ:PENN) Director David Handler acquired 20,000 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was acquired at an average cost of $14.25 per share, with a total value of $285,000.00. Following the completion of the transaction, the director owned 362,941 shares of the company’s stock, valued at approximately $5,171,909.25. The trade was a 5.83% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

PENN Entertainment Stock Up 1.5%

PENN stock opened at $13.96 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $1.86 billion, a PE ratio of -24.93 and a beta of 1.53. PENN Entertainment, Inc. has a 1-year low of $13.24 and a 1-year high of $23.08. The business’s 50 day simple moving average is $17.35 and its 200 day simple moving average is $17.44.

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

Institutional Investors Weigh In On PENN Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in PENN Entertainment by 152.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,397 shares of the company’s stock worth $25,000 after acquiring an additional 843 shares during the period. Quarry LP acquired a new stake in shares of PENN Entertainment during the 1st quarter worth $30,000. Triumph Capital Management bought a new position in shares of PENN Entertainment in the third quarter worth $54,000. State of Wyoming bought a new position in shares of PENN Entertainment in the first quarter worth $46,000. Finally, Cloud Capital Management LLC acquired a new position in PENN Entertainment in the third quarter valued at about $54,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. Citigroup reaffirmed an “outperform” rating on shares of PENN Entertainment in a report on Friday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a research report on Monday. Stifel Nicolaus raised PENN Entertainment from a “hold” rating to a “buy” rating and upped their target price for the company from $19.00 to $21.00 in a research report on Friday, November 7th. Wells Fargo & Company assumed coverage on PENN Entertainment in a report on Tuesday. They set an “underweight” rating and a $15.00 price target for the company. Finally, Wall Street Zen downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, PENN Entertainment presently has an average rating of “Hold” and a consensus target price of $22.00.

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.