Sanctuary Advisors LLC Acquires Shares of 63,819 PENN Entertainment, Inc. (NASDAQ:PENN)

Sanctuary Advisors LLC acquired a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 63,819 shares of the company’s stock, valued at approximately $1,236,000.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of PENN Entertainment by 233.6% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after buying an additional 1,009 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of PENN Entertainment during the fourth quarter worth $40,000. J.Safra Asset Management Corp acquired a new position in shares of PENN Entertainment during the second quarter worth $83,000. Quarry LP increased its holdings in shares of PENN Entertainment by 76.7% during the second quarter. Quarry LP now owns 4,291 shares of the company’s stock worth $83,000 after buying an additional 1,862 shares in the last quarter. Finally, 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 worth $252,000 after buying an additional 632 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Price Performance

Shares of NASDAQ PENN opened at $18.46 on Friday. The firm’s 50-day moving average price is $18.82 and its 200-day moving average price is $18.04. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20. The firm has a market capitalization of $2.81 billion, a P/E ratio of -2.48 and a beta of 2.10. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35.

PENN Entertainment (NASDAQ:PENN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts anticipate that PENN Entertainment, Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jay A. Snowden acquired 54,200 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the acquisition, the chief executive officer now owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition 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 the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the acquisition, the chief executive officer now directly owns 853,045 shares of the company’s stock, valued at approximately $15,730,149.80. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Handler bought 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the acquisition, the director now directly owns 293,450 shares in the company, valued at $5,138,309.50. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 79,200 shares of company stock worth $1,450,548. Company insiders own 2.19% of the company’s stock.

Wall Street Analysts Forecast Growth

PENN has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $26.00 price target on shares of PENN Entertainment in a report on Tuesday. Craig Hallum reissued a “buy” rating and issued a $30.00 price objective on shares of PENN Entertainment in a research note on Tuesday. Barclays boosted their price objective on shares of PENN Entertainment from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Macquarie reissued an “outperform” rating and issued a $26.00 price objective on shares of PENN Entertainment in a research note on Friday, August 9th. Finally, Truist Financial boosted their price objective on shares of PENN Entertainment from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.77.

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.