PENN Entertainment, Inc. (NASDAQ:PENN) Director David A. Handler Buys 20,000 Shares of Stock

PENN Entertainment, Inc. (NASDAQ:PENN) Director David A. Handler purchased 20,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $15.37 per share, with a total value of $307,400.00. Following the transaction, 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 SEC, which can be accessed through this link.

PENN Entertainment Price Performance

Shares of PENN Entertainment stock opened at $15.66 on Thursday. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50 day simple moving average is $17.33 and its two-hundred day simple moving average is $21.06. The stock has a market capitalization of $2.39 billion, a P/E ratio of -2.10 and a beta of 2.06. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $29.38.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($1.18). PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Analysts forecast that PENN Entertainment, Inc. will post -0.9 EPS for the current year.

Hedge Funds Weigh In On PENN Entertainment

Hedge funds have recently made changes to their positions in the business. Kettle Hill Capital Management LLC purchased a new position in shares of PENN Entertainment during the third quarter valued at approximately $19,792,000. Fred Alger Management LLC bought a new stake in PENN Entertainment in the third quarter worth $1,750,000. Sei Investments Co. boosted its holdings in PENN Entertainment by 13.9% in the third quarter. Sei Investments Co. now owns 1,372,982 shares of the company’s stock worth $31,510,000 after acquiring an additional 167,445 shares in the last quarter. Blue Trust Inc. boosted its holdings in PENN Entertainment by 20.0% in the fourth quarter. Blue Trust Inc. now owns 5,374 shares of the company’s stock worth $140,000 after acquiring an additional 896 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in PENN Entertainment by 126.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 123,706 shares of the company’s stock worth $3,219,000 after acquiring an additional 69,020 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PENN has been the subject of a number of research analyst reports. Barclays dropped their price target on PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Canaccord Genuity Group dropped their target price on PENN Entertainment from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 29th. StockNews.com downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Wells Fargo & Company dropped their target price on PENN Entertainment from $21.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, May 3rd. Finally, Craig Hallum dropped their target price on PENN Entertainment from $25.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.92.

About PENN Entertainment

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.