PENN Entertainment, Inc. (NASDAQ:PENN) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its holdings in PENN Entertainment, Inc. (NASDAQ:PENN) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,300 shares of the company’s stock after selling 2,900 shares during the period. Louisiana State Employees Retirement System’s holdings in PENN Entertainment were worth $1,364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PENN. GAMMA Investing LLC grew its stake in shares of PENN Entertainment by 233.6% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after purchasing an additional 1,009 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of PENN Entertainment by 1,634.8% during the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after purchasing an additional 3,057 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of PENN Entertainment during the second quarter worth $83,000. Quarry LP grew its stake in shares of PENN Entertainment by 76.7% during the second quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after purchasing an additional 1,862 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of PENN Entertainment by 18.3% during the second quarter. Blue Trust Inc. now owns 10,060 shares of the company’s stock worth $183,000 after purchasing an additional 1,555 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Insider Activity

In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the transaction, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at $15,730,149.80. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Anuj Dhanda bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the transaction, the director now owns 31,523 shares in the company, valued at $580,023.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jay A. Snowden bought 54,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the transaction, the chief executive officer now owns 853,045 shares of the company’s stock, valued at $15,730,149.80. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 79,200 shares of company stock worth $1,450,548 over the last ninety days. 2.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PENN has been the subject of a number of analyst reports. Stifel Nicolaus boosted their target price on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Friday, October 4th. Wells Fargo & Company upped their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Morgan Stanley decreased their price objective on shares of PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 22nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, PENN Entertainment presently has a consensus rating of “Hold” and an average price target of $22.96.

PENN Entertainment Trading Down 1.5 %

NASDAQ PENN opened at $19.45 on Friday. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $27.20. 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 market capitalization of $2.97 billion, a P/E ratio of -2.40 and a beta of 2.10. The firm has a 50-day moving average price of $18.97 and a 200 day moving average price of $18.23.

PENN Entertainment (NASDAQ:PENN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.09. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. PENN Entertainment had a negative net margin of 19.48% and a negative return on equity of 7.13%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.48 earnings per share. Equities research analysts expect that PENN Entertainment, Inc. will post -1.36 EPS for the current year.

PENN Entertainment 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.