PENN Entertainment, Inc. (NASDAQ:PENN – Get Free Report)’s share price shot up 3.7% during trading on Friday after an insider bought additional shares in the company. The stock traded as high as $23.00 and last traded at $22.80. 1,581,218 shares were traded during trading, a decline of 52% from the average session volume of 3,322,116 shares. The stock had previously closed at $21.99.Specifically, Director Kohn Barbara Shattuck sold 30,445 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $26.62, for a total transaction of $810,445.90. Following the transaction, the director now directly owns 28,541 shares of the company’s stock, valued at approximately $759,761.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other PENN Entertainment news, CFO Felicia Hendrix purchased 11,162 shares of PENN Entertainment stock in a transaction on Wednesday, September 6th. The shares were bought at an average price of $22.41 per share, with a total value of $250,140.42. Following the completion of the acquisition, the chief financial officer now directly owns 27,975 shares of the company’s stock, valued at $626,919.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kohn Barbara Shattuck sold 30,445 shares of PENN Entertainment stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $26.62, for a total value of $810,445.90. Following the transaction, the director now owns 28,541 shares of the company’s stock, valued at $759,761.42. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on PENN shares. Canaccord Genuity Group reduced their target price on shares of PENN Entertainment from $44.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, August 10th. StockNews.com cut shares of PENN Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Craig Hallum lowered PENN Entertainment from a “buy” rating to a “hold” rating and reduced their price target for the stock from $56.00 to $30.00 in a research note on Thursday, August 10th. Needham & Company LLC reiterated a “buy” rating and set a $44.00 target price on shares of PENN Entertainment in a research report on Thursday, August 10th. Finally, Barclays raised their price target on PENN Entertainment from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.72.
View Our Latest Stock Report on PENN
PENN Entertainment Trading Up 2.5 %
The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.39 and a current ratio of 1.41. The business’s 50 day moving average price is $24.69 and its 200-day moving average price is $26.51. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 5.12, a price-to-earnings-growth ratio of 2.82 and a beta of 2.19.
PENN Entertainment (NASDAQ:PENN – Get Free Report) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.09. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.66 billion. PENN Entertainment had a return on equity of 7.10% and a net margin of 11.24%. PENN Entertainment’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Equities analysts expect that PENN Entertainment, Inc. will post 1.71 EPS for the current year.
Hedge Funds Weigh In On PENN Entertainment
Large investors have recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC raised its stake in PENN Entertainment by 21.5% during the first quarter. Cetera Advisor Networks LLC now owns 7,719 shares of the company’s stock worth $327,000 after acquiring an additional 1,365 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of PENN Entertainment by 92.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,883 shares of the company’s stock worth $674,000 after purchasing an additional 7,612 shares during the last quarter. Natixis Advisors L.P. acquired a new position in PENN Entertainment during the 1st quarter valued at approximately $556,000. MetLife Investment Management LLC grew its stake in PENN Entertainment by 24.3% during the 1st quarter. MetLife Investment Management LLC now owns 45,633 shares of the company’s stock worth $1,936,000 after buying an additional 8,931 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in PENN Entertainment by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,228 shares of the company’s stock worth $943,000 after buying an additional 1,377 shares during the period. 82.34% of the stock is currently owned by institutional investors.
PENN Entertainment Company Profile
PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences in North America. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under a portfolio of brands, including Hollywood Casino, L’Auberge, Barstool Sportsbook, and theScore Bet Sportbook and Casino.
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