Anuj Dhanda Buys 15,000 Shares of PENN Entertainment, Inc. (NASDAQ:PENN) Stock

PENN Entertainment, Inc. (NASDAQ:PENN) Director Anuj Dhanda acquired 15,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $18.40 per share, with a total value of $276,000.00. Following the completion of the purchase, the director now owns 31,523 shares in the company, valued at approximately $580,023.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PENN Entertainment Price Performance

PENN stock opened at $17.42 on Wednesday. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $27.20. The business has a fifty day moving average of $18.98 and a two-hundred day moving average of $17.89. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -2.34 and a beta of 2.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.35.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings data 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 firm 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%. PENN Entertainment’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. As a group, research analysts anticipate that PENN Entertainment, Inc. will post -1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, June 4th. Barclays increased their target price on shares of PENN Entertainment from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Macquarie reissued an “outperform” rating and issued a $26.00 target price on shares of PENN Entertainment in a research note on Friday, August 9th. One investment 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.77.

Hedge Funds Weigh In On PENN Entertainment

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised 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 valued at $28,000 after purchasing an additional 1,009 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of PENN Entertainment in the fourth quarter valued at $40,000. TFO Wealth Partners LLC raised its holdings in shares of PENN Entertainment by 123,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 3,694 shares of the company’s stock valued at $96,000 after buying an additional 3,691 shares during the period. J.Safra Asset Management Corp acquired a new position in PENN Entertainment during the 2nd quarter worth about $83,000. Finally, Quarry LP boosted its holdings in PENN Entertainment by 76.7% during the 2nd quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after acquiring an additional 1,862 shares during the period. Hedge funds and other institutional investors own 91.69% 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.