Versor Investments LP Makes New $571,000 Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

Versor Investments LP purchased a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 30,300 shares of the company’s stock, valued at approximately $571,000.

Several other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in PENN Entertainment by 4,624.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company’s stock worth $28,183,000 after acquiring an additional 1,425,274 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of PENN Entertainment by 1,051.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company’s stock worth $26,809,000 after purchasing an additional 1,297,976 shares during the last quarter. Armistice Capital LLC raised its holdings in shares of PENN Entertainment by 91.9% in the 2nd quarter. Armistice Capital LLC now owns 2,643,060 shares of the company’s stock worth $51,156,000 after purchasing an additional 1,266,023 shares in the last quarter. Invenomic Capital Management LP lifted its stake in PENN Entertainment by 71.9% during the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company’s stock valued at $34,313,000 after purchasing an additional 787,968 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in PENN Entertainment by 284.6% during the first quarter. National Bank of Canada FI now owns 968,514 shares of the company’s stock worth $17,637,000 after buying an additional 716,686 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Stock Down 1.4 %

PENN stock opened at $21.23 on Thursday. The company has a 50 day moving average of $19.12 and a two-hundred day moving average of $18.40. The company has a market cap of $3.24 billion, a price-to-earnings ratio of -6.05 and a beta of 2.09. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $27.20. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. PENN Entertainment’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. On average, equities analysts anticipate that PENN Entertainment, Inc. will post -1.5 earnings per share for the current fiscal year.

Insider Transactions at PENN Entertainment

In other news, CEO Jay A. Snowden purchased 54,200 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $18.44 per share, with a total value of $999,448.00. Following the purchase, the chief executive officer now owns 853,045 shares in the company, valued at $15,730,149.80. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PENN Entertainment news, CEO Jay A. Snowden bought 54,200 shares of PENN Entertainment stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the purchase, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at $15,730,149.80. 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 can be accessed through this link. Also, Director Anuj Dhanda purchased 15,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the purchase, 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 disclosure for this purchase can be found here. Insiders bought 79,200 shares of company stock valued at $1,450,548 in the last three months. Corporate insiders own 2.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PENN shares. Mizuho cut their price objective on PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Stifel Nicolaus increased their price target on PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Morgan Stanley dropped their price target on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 22nd. Truist Financial reduced their price objective on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Susquehanna dropped their target price on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.29.

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.