PENN Entertainment (NASDAQ:PENN) Director David Handler Acquires 20,000 Shares

PENN Entertainment, Inc. (NASDAQ:PENN) Director David Handler acquired 20,000 shares of PENN Entertainment stock in a transaction that occurred on 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 purchase, the director owned 362,941 shares in the company, valued at approximately $5,171,909.25. This represents a 5.83% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

PENN Entertainment Price Performance

Shares of PENN opened at $13.76 on Wednesday. The business’s 50-day moving average is $17.48 and its 200-day moving average is $17.46. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -24.57 and a beta of 1.53. PENN Entertainment, Inc. has a fifty-two week low of $13.24 and a fifty-two week high of $23.08.

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

Institutional Trading of PENN Entertainment

Several large investors have recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in PENN Entertainment by 152.2% in 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 in the first quarter valued at about $30,000. State of Wyoming bought a new position in shares of PENN Entertainment in the first quarter worth about $46,000. Cloud Capital Management LLC bought a new position in shares of PENN Entertainment in the third quarter worth about $54,000. Finally, Triumph Capital Management acquired a new position in shares of PENN Entertainment during the 3rd quarter worth about $54,000. 91.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PENN has been the topic of a number of research reports. Stifel Nicolaus raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and upped their price target for the stock from $19.00 to $21.00 in a research note on Friday, November 7th. Citizens Jmp lowered their target price on PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating on the stock in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PENN Entertainment in a research note on Monday. Wall Street Zen lowered PENN Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on PENN Entertainment from $19.00 to $17.00 and set a “hold” rating on the stock in a report on Friday, November 7th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.