Empowered Funds LLC Invests $11.26 Million in PENN Entertainment, Inc. $PENN

Empowered Funds LLC acquired a new stake in PENN Entertainment, Inc. (NASDAQ:PENN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 629,990 shares of the company’s stock, valued at approximately $11,258,000.

A number of other institutional investors also recently bought and sold shares of PENN. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of PENN Entertainment in the first quarter valued at $289,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in PENN Entertainment by 711.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 119,490 shares of the company’s stock valued at $2,135,000 after acquiring an additional 104,770 shares during the last quarter. Peregrine Capital Management LLC increased its holdings in PENN Entertainment by 13.6% during the 2nd quarter. Peregrine Capital Management LLC now owns 315,633 shares of the company’s stock valued at $5,640,000 after acquiring an additional 37,888 shares in the last quarter. Baron Wealth Management LLC acquired a new position in PENN Entertainment during the second quarter worth about $650,000. Finally, Russell Investments Group Ltd. raised its position in PENN Entertainment by 37.9% during the first quarter. Russell Investments Group Ltd. now owns 60,269 shares of the company’s stock worth $985,000 after acquiring an additional 16,553 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Stock Performance

PENN Entertainment stock opened at $13.76 on Wednesday. PENN Entertainment, Inc. has a 52 week low of $13.24 and a 52 week high of $23.08. The stock has a fifty day moving average price of $17.48 and a 200 day moving average price of $17.46. The firm has a market capitalization of $1.83 billion, a P/E ratio of -24.57 and a beta of 1.53. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.39.

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

Insider Buying and Selling at PENN Entertainment

In related news, CEO Jay A. Snowden bought 34,700 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were acquired at an average price of $14.32 per share, for a total transaction of $496,904.00. Following the purchase, the chief executive officer owned 1,117,325 shares in the company, valued at $16,000,094. This trade represents a 3.21% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David A. Handler bought 20,000 shares of PENN Entertainment stock in a transaction on Monday, November 17th. The shares were purchased at an average cost of $14.25 per share, for a total transaction of $285,000.00. Following the acquisition, the director owned 362,941 shares in the company, valued at $5,171,909.25. The trade was a 5.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.67% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PENN shares. Wall Street Zen cut shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of PENN Entertainment in a research report on Friday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on PENN Entertainment from $19.00 to $17.00 and set a “hold” rating on the stock in a research report on Friday, November 7th. Citigroup reiterated an “outperform” rating on shares of PENN Entertainment in a research report on Friday, August 8th. Finally, Citizens Jmp reduced their target price on shares of PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating on the stock in a report on Friday, November 7th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company 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.