Insider Selling: PENN Entertainment (NASDAQ:PENN) Director Sells 7,987 Shares of Stock

PENN Entertainment, Inc. (NASDAQ:PENN) Director Gupta Vimla Black sold 7,987 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $14.51, for a total transaction of $115,891.37. Following the completion of the sale, the director owned 25,000 shares of the company’s stock, valued at approximately $362,750. The trade was a 24.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

PENN Entertainment Trading Up 0.8%

NASDAQ:PENN traded up $0.11 during trading hours on Tuesday, reaching $13.76. 5,394,049 shares of the company were exchanged, compared to its average volume of 4,082,463. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -24.57 and a beta of 1.53. The stock has a 50 day simple moving average of $17.60 and a 200 day simple moving average of $17.48. PENN Entertainment, Inc. has a 52-week low of $13.24 and a 52-week high of $23.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.79 and a quick ratio of 0.79.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data 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). 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 firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.24) earnings per share. As a group, analysts predict that PENN Entertainment, Inc. will post -1.61 EPS for the current year.

Hedge Funds Weigh In On PENN Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of PENN. Advisory Services Network LLC acquired a new stake in PENN Entertainment in the third quarter valued at approximately $122,000. Armistice Capital LLC boosted its stake in shares of PENN Entertainment by 48.8% in the third quarter. Armistice Capital LLC now owns 2,103,666 shares of the company’s stock valued at $40,517,000 after purchasing an additional 690,078 shares during the period. Caxton Associates LLP boosted its stake in shares of PENN Entertainment by 184.6% in the third quarter. Caxton Associates LLP now owns 94,079 shares of the company’s stock valued at $1,812,000 after purchasing an additional 61,020 shares during the period. Triumph Capital Management acquired a new stake in PENN Entertainment during the 3rd quarter valued at $54,000. Finally, Dark Forest Capital Management LP purchased a new stake in PENN Entertainment during the 3rd quarter worth $2,704,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

PENN has been the topic of several research analyst reports. JMP Securities lifted their price objective on PENN Entertainment from $24.00 to $25.00 and gave the company a “market outperform” rating in a research note on Friday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of PENN Entertainment in a report on Monday. Stifel Nicolaus raised shares of PENN Entertainment from a “hold” rating to a “buy” rating and lifted their price target for the company from $19.00 to $21.00 in a research report on Friday, November 7th. Citizens Jmp dropped their price objective on shares of PENN Entertainment from $25.00 to $24.00 and set a “market outperform” rating for the company in a research report on Friday, November 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of PENN Entertainment from $19.00 to $17.00 and set a “hold” rating on the stock in a research note on Friday, November 7th. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.00.

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.