PENN Entertainment, Inc. (NASDAQ:PENN) Stake Raised by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 88.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,716 shares of the company’s stock after purchasing an additional 1,275 shares during the period. GAMMA Investing LLC’s holdings in PENN Entertainment were worth $51,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. J.Safra Asset Management Corp bought a new stake in PENN Entertainment during the second quarter worth approximately $83,000. Quarry LP lifted its holdings in shares of PENN Entertainment by 76.7% during the second quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after purchasing an additional 1,862 shares during the last quarter. Blue Trust Inc. boosted its position in shares of PENN Entertainment by 18.3% in the 2nd quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock valued at $183,000 after purchasing an additional 1,555 shares during the period. Wolf Hill Capital Management LP purchased a new position in PENN Entertainment in the 2nd quarter worth about $221,000. Finally, WINTON GROUP Ltd purchased a new position in PENN Entertainment in the 2nd quarter worth about $227,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, Director Anuj Dhanda bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the purchase, the director now directly owns 31,523 shares in the company, valued at $580,023.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Anuj Dhanda bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the transaction, the director now owns 31,523 shares of the company’s stock, valued at $580,023.20. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Handler purchased 10,000 shares of PENN Entertainment stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $17.51 per share, with a total value of $175,100.00. Following the completion of the acquisition, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 79,200 shares of company stock worth $1,450,548. Company insiders own 2.19% of the company’s stock.

PENN Entertainment Stock Up 1.2 %

Shares of PENN Entertainment stock opened at $18.74 on Thursday. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $27.20. The stock has a market capitalization of $2.86 billion, a P/E ratio of -2.52 and a beta of 2.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.35. The stock has a 50 day moving average price of $18.90 and a two-hundred day moving average price of $18.06.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. PENN Entertainment’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. Equities analysts expect that PENN Entertainment, Inc. will post -1.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PENN shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Tuesday, October 8th. Craig Hallum restated a “buy” rating and set a $30.00 price target on shares of PENN Entertainment in a report on Tuesday, October 8th. Morgan Stanley cut their price objective on PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Stifel Nicolaus boosted their target price on PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Susquehanna reiterated a “positive” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.68.

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.