Insider Buying: PENN Entertainment, Inc. (NASDAQ:PENN) CFO Buys 16,157 Shares of Stock

PENN Entertainment, Inc. (NASDAQ:PENN) CFO Felicia Hendrix purchased 16,157 shares of the stock in a transaction dated Monday, May 6th. The stock was purchased at an average price of $15.47 per share, with a total value of $249,948.79. Following the completion of the acquisition, the chief financial officer now directly owns 68,596 shares in the company, valued at approximately $1,061,180.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PENN Entertainment Stock Performance

PENN stock traded down $0.25 during trading on Wednesday, reaching $15.66. 8,405,649 shares of the company’s stock were exchanged, compared to its average volume of 5,938,614. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $29.38. The company’s fifty day moving average price is $17.38 and its 200-day moving average price is $21.10. The firm has a market cap of $2.39 billion, a PE ratio of -2.10 and a beta of 2.06.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) earnings per share (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 business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. On average, research analysts expect that PENN Entertainment, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PENN shares. Morgan Stanley boosted their price target on PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. StockNews.com downgraded PENN Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Barclays lowered their price target on PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Canaccord Genuity Group lowered their price target on PENN Entertainment from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 29th. Finally, Truist Financial upgraded PENN Entertainment from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, April 23rd. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.92.

Institutional Trading of PENN Entertainment

Several institutional investors have recently modified their holdings of PENN. Commonwealth Equity Services LLC lifted its holdings in shares of PENN Entertainment by 8.0% in the third quarter. Commonwealth Equity Services LLC now owns 57,884 shares of the company’s stock valued at $1,328,000 after buying an additional 4,270 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of PENN Entertainment by 11.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 29,804 shares of the company’s stock worth $684,000 after purchasing an additional 3,041 shares during the period. Raymond James & Associates raised its position in shares of PENN Entertainment by 15.7% during the third quarter. Raymond James & Associates now owns 73,007 shares of the company’s stock worth $1,676,000 after purchasing an additional 9,886 shares during the period. New York State Teachers Retirement System raised its position in shares of PENN Entertainment by 11.6% during the third quarter. New York State Teachers Retirement System now owns 220,786 shares of the company’s stock worth $5,067,000 after purchasing an additional 22,953 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PENN Entertainment by 14.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,011 shares of the company’s stock worth $528,000 after purchasing an additional 2,941 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.