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 business’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $15.47 per share, with a total value of $249,948.79. Following the completion of the purchase, the chief financial officer now owns 68,596 shares of the company’s stock, valued at approximately $1,061,180.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

PENN Entertainment Trading Down 1.6 %

NASDAQ:PENN traded down $0.25 during trading hours on Wednesday, hitting $15.66. 8,405,649 shares of the company were exchanged, compared to its average volume of 5,938,614. The company has a fifty day simple moving average of $17.38 and a 200 day simple moving average of $21.10. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $29.38. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -2.10 and a beta of 2.06. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 2.33.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data 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 analyst estimates of $1.54 billion. Sell-side analysts expect that PENN Entertainment, Inc. will post -0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On PENN Entertainment

Institutional investors have recently modified their holdings of the company. Huntington National Bank raised its stake in PENN Entertainment by 324.8% during the third quarter. Huntington National Bank now owns 1,402 shares of the company’s stock worth $32,000 after buying an additional 1,072 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in shares of PENN Entertainment in the 4th quarter worth about $32,000. Lindbrook Capital LLC lifted its stake in shares of PENN Entertainment by 57.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock valued at $40,000 after purchasing an additional 553 shares during the period. Neo Ivy Capital Management acquired a new position in shares of PENN Entertainment in the 4th quarter valued at about $40,000. Finally, Signaturefd LLC grew its stake in PENN Entertainment by 60.8% during the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock worth $44,000 after purchasing an additional 727 shares during the period. 91.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on PENN shares. Benchmark restated a “hold” rating on shares of PENN Entertainment in a research report on Friday, May 3rd. Craig Hallum lowered 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. Wells Fargo & Company lowered their price objective on shares of 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. Macquarie lowered their price objective on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Finally, StockNews.com downgraded shares of PENN Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.92.

PENN Entertainment Company Profile

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.