Edgestream Partners L.P. Purchases 69,083 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Edgestream Partners L.P. lifted its position in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 124.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,484 shares of the company’s stock after purchasing an additional 69,083 shares during the quarter. Edgestream Partners L.P. owned approximately 0.08% of PENN Entertainment worth $2,409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in PENN Entertainment by 233.6% in 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 during the period. Neo Ivy Capital Management acquired a new position in shares of PENN Entertainment in the 4th quarter valued at $40,000. J.Safra Asset Management Corp bought a new position in shares of PENN Entertainment during the 2nd quarter worth about $83,000. TFO Wealth Partners LLC boosted its position in shares of PENN Entertainment by 123,033.3% during the 4th quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock valued at $96,000 after acquiring an additional 3,691 shares in the last quarter. Finally, Blue Trust Inc. raised its position in PENN Entertainment by 18.3% in 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.

PENN Entertainment Stock Down 0.8 %

NASDAQ:PENN opened at $19.62 on Thursday. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -2.63 and a beta of 2.10. 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 stock’s fifty day moving average price is $18.94 and its two-hundred day moving average price is $17.95. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $27.20.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (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 return on equity of 7.13% and a negative net margin of 19.48%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. On average, analysts anticipate that PENN Entertainment, Inc. will post -1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

PENN has been the topic of a number of recent research reports. Raymond James downgraded PENN Entertainment from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Barclays upped their price target on PENN Entertainment from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Craig Hallum raised PENN Entertainment from a “hold” rating to a “buy” rating and lifted their price objective for the company from $20.00 to $30.00 in a report on Friday, June 21st. Truist Financial upped their target price on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.77.

Insider Buying and Selling at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was bought 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 directly owns 853,045 shares in the company, valued at $15,730,149.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other PENN Entertainment news, CEO Jay A. Snowden bought 54,200 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $18.44 per share, with a total value of $999,448.00. Following the acquisition, the chief executive officer now owns 853,045 shares of the company’s stock, valued at $15,730,149.80. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David A. Handler purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the purchase, the director now owns 293,450 shares in the company, valued at $5,138,309.50. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 79,200 shares of company stock worth $1,450,548. Company insiders own 2.19% of the company’s stock.

About PENN Entertainment

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.