DekaBank Deutsche Girozentrale Acquires New Shares in PENN Entertainment, Inc. (NASDAQ:PENN)

DekaBank Deutsche Girozentrale acquired a new position in PENN Entertainment, Inc. (NASDAQ:PENN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,387 shares of the company’s stock, valued at approximately $45,000.

Other hedge funds have also bought and sold shares of the company. Driehaus Capital Management LLC purchased a new position in shares of PENN Entertainment in the 2nd quarter worth $4,535,000. Virtu Financial LLC purchased a new position in PENN Entertainment in the first quarter worth about $1,098,000. Cetera Advisors LLC increased its position in shares of PENN Entertainment by 184.3% during the 1st quarter. Cetera Advisors LLC now owns 60,708 shares of the company’s stock valued at $1,105,000 after purchasing an additional 39,356 shares during the last quarter. Axxcess Wealth Management LLC increased its position in shares of PENN Entertainment by 300.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 36,975 shares of the company’s stock valued at $673,000 after purchasing an additional 27,743 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of PENN Entertainment in the first quarter worth approximately $759,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Activity at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden acquired 54,200 shares of the stock in a transaction 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 of the company’s stock, valued at $15,730,149.80. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Anuj Dhanda bought 15,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 31,523 shares in the company, valued at $580,023.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jay A. Snowden purchased 54,200 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $18.44 per share, with a total value of $999,448.00. Following the completion of the transaction, the chief executive officer now owns 853,045 shares of the company’s stock, valued at $15,730,149.80. 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 ninety days, insiders acquired 79,200 shares of company stock valued at $1,450,548. 2.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PENN has been the subject of a number of research reports. Mizuho reduced their target price on shares of PENN Entertainment from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Morgan Stanley lowered their target price on PENN Entertainment from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 22nd. Barclays reduced their price target on PENN Entertainment from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $30.00 price objective on shares of PENN Entertainment in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.89.

PENN Entertainment Stock Performance

Shares of NASDAQ PENN opened at $19.06 on Tuesday. The company has a market cap of $2.91 billion, a P/E ratio of -2.35 and a beta of 2.09. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week 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 firm’s fifty day moving average is $18.96 and its two-hundred day moving average is $18.28.

PENN Entertainment (NASDAQ:PENN) last posted its earnings results on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, topping 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 company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, analysts anticipate that PENN Entertainment, Inc. will post -1.36 EPS for the current fiscal year.

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.