283,600 Shares in PENN Entertainment, Inc. (NASDAQ:PENN) Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 283,600 shares of the company’s stock, valued at approximately $5,489,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PENN. B. Riley Wealth Advisors Inc. increased its holdings in shares of PENN Entertainment by 7.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 9,674 shares of the company’s stock valued at $252,000 after acquiring an additional 632 shares in the last quarter. United Services Automobile Association increased its stake in PENN Entertainment by 6.3% during the 2nd 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 in the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of PENN Entertainment by 6.0% during the second quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company’s stock worth $247,000 after buying an additional 720 shares during the period. Arizona State Retirement System grew its holdings in shares of PENN Entertainment by 2.5% during the second quarter. Arizona State Retirement System now owns 38,403 shares of the company’s stock valued at $743,000 after buying an additional 944 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of PENN Entertainment by 233.6% in the 2nd 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. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Trading Down 0.6 %

Shares of PENN stock opened at $18.70 on Thursday. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20. The company has a market cap of $2.85 billion, a price-to-earnings ratio of -2.51 and a beta of 2.10. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a 50 day simple moving average of $18.88 and a 200-day simple moving average of $18.00.

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

Analysts Set New Price Targets

PENN has been the subject of a number of research reports. Raymond James cut PENN Entertainment from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft upped their target price on PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Macquarie reissued an “outperform” rating and set a $26.00 price target on shares of PENN Entertainment in a research report on Friday, August 9th. Morgan Stanley dropped their price objective on shares of PENN Entertainment from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $26.00 target price on shares of PENN Entertainment in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, PENN Entertainment has an average rating of “Hold” and a consensus price target of $23.77.

Insider Activity at PENN Entertainment

In other news, CEO Jay A. Snowden acquired 54,200 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $18.44 per share, for a total transaction 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. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PENN Entertainment news, Director David A. Handler purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $17.51 per share, with a total value of $175,100.00. Following the completion of the purchase, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jay A. Snowden acquired 54,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost 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 approximately $15,730,149.80. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 79,200 shares of company stock valued at $1,450,548. 2.19% of the stock is owned by corporate insiders.

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.