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

PENN Entertainment, Inc. (NASDAQ:PENN) Director David A. Handler bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average cost of $15.37 per share, for a total transaction of $307,400.00. Following the transaction, the director now owns 243,450 shares of the company’s stock, valued at $3,741,826.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $16.24 on Friday. The stock has a market cap of $2.48 billion, a P/E ratio of -2.18 and a beta of 2.06. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.33. The business’s 50-day moving average price is $17.29 and its two-hundred day moving average price is $21.03. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $29.38.

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

Institutional Trading of PENN Entertainment

A number of hedge funds have recently made changes to their positions in the stock. Blair William & Co. IL bought a new position in PENN Entertainment in the first quarter valued at $905,000. State Board of Administration of Florida Retirement System increased its position in shares of PENN Entertainment by 4.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 185,017 shares of the company’s stock valued at $3,369,000 after purchasing an additional 8,062 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of PENN Entertainment during the 1st quarter valued at about $737,000. Headlands Technologies LLC bought a new stake in PENN Entertainment in the 1st quarter worth approximately $289,000. Finally, Sei Investments Co. boosted its stake in PENN Entertainment by 13.1% in the first quarter. Sei Investments Co. now owns 2,372,277 shares of the company’s stock worth $43,199,000 after buying an additional 274,074 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PENN shares. Craig Hallum reduced their price objective on shares of PENN Entertainment from $25.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Stifel Nicolaus decreased their price objective on shares of PENN Entertainment from $27.00 to $23.00 and set a “hold” rating for the company in a report on Friday, February 16th. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research note on Tuesday, April 23rd. Morgan Stanley upped their price objective on shares of PENN Entertainment from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Barclays reduced their price objective on shares of PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.