PENN Entertainment, Inc. (NASDAQ:PENN) CEO Jay A. Snowden Purchases 54,200 Shares

PENN Entertainment, Inc. (NASDAQ:PENN) CEO Jay A. Snowden acquired 54,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price 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 in the company, valued at $15,730,149.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

PENN Entertainment Price Performance

PENN opened at $18.24 on Wednesday. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $27.20. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.03 and a current ratio of 1.03. The company’s 50 day simple moving average is $19.04 and its 200 day simple moving average is $17.86. The stock has a market capitalization of $2.78 billion, a PE ratio of -2.45 and a beta of 2.11.

PENN Entertainment (NASDAQ:PENN) last issued its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. PENN Entertainment had a negative return on equity of 7.13% and a negative net margin of 19.48%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts expect that PENN Entertainment, Inc. will post -1.32 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PENN shares. Needham & Company LLC restated a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Thursday, August 8th. Craig Hallum raised PENN Entertainment from a “hold” rating to a “buy” rating and upped their target price for the company from $20.00 to $30.00 in a research note on Friday, June 21st. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a report on Tuesday, June 4th. Susquehanna restated a “positive” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, June 21st. Finally, Stifel Nicolaus increased their price objective on PENN Entertainment from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, PENN Entertainment has an average rating of “Hold” and a consensus price target of $23.83.

Institutional Investors Weigh In On PENN Entertainment

Several large investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. boosted its position in PENN Entertainment by 7.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock valued at $252,000 after buying an additional 632 shares during the last quarter. United Services Automobile Association increased its stake in PENN Entertainment by 6.3% during the second quarter. United Services Automobile Association now owns 12,009 shares of the company’s stock valued at $232,000 after purchasing an additional 712 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in shares of PENN Entertainment by 6.0% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company’s stock valued at $247,000 after buying an additional 720 shares during the period. Arizona State Retirement System raised its stake in PENN Entertainment by 2.5% during the second quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock worth $743,000 after acquiring an additional 944 shares during the period. Finally, GAMMA Investing LLC boosted its stake in PENN Entertainment by 233.6% in the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock valued at $28,000 after acquiring an additional 1,009 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.