PENN Entertainment, Inc. (NASDAQ:PENN) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC grew its holdings in shares of PENN Entertainment, Inc. (NASDAQ:PENN) by 25.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 303,655 shares of the company’s stock after acquiring an additional 61,285 shares during the period. Natixis Advisors LLC’s holdings in PENN Entertainment were worth $5,727,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in PENN Entertainment by 233.6% during 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 last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of PENN Entertainment during the third quarter worth about $45,000. International Assets Investment Management LLC lifted its position in shares of PENN Entertainment by 1,634.8% during the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company’s stock worth $61,000 after purchasing an additional 3,057 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in PENN Entertainment in the second quarter valued at about $83,000. Finally, Quarry LP raised its stake in PENN Entertainment by 76.7% during the second quarter. Quarry LP now owns 4,291 shares of the company’s stock valued at $83,000 after buying an additional 1,862 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Trading Up 1.5 %

Shares of PENN stock opened at $20.52 on Friday. The firm has a market capitalization of $3.13 billion, a PE ratio of -5.78 and a beta of 2.09. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. PENN Entertainment, Inc. has a 1 year low of $13.50 and a 1 year high of $27.20. The stock has a fifty day moving average of $19.45 and a two-hundred day moving average of $18.59.

PENN Entertainment (NASDAQ:PENN) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. PENN Entertainment’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts expect that PENN Entertainment, Inc. will post -1.53 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PENN shares. Bank of America started coverage on PENN Entertainment in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 target price for the company. JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research note on Friday, October 4th. Susquehanna reduced their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Truist Financial cut their target price on shares of PENN Entertainment from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $23.29.

Insider Activity at PENN Entertainment

In other PENN Entertainment news, Director David A. Handler acquired 10,000 shares of PENN Entertainment stock in a transaction dated Tuesday, September 10th. The stock was bought at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the transaction, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. This trade represents a 3.53 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anuj Dhanda bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the acquisition, the director now directly owns 31,523 shares in the company, valued at approximately $580,023.20. This represents a 90.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 79,200 shares of company stock worth $1,450,548 over the last quarter. 2.19% of the stock is currently owned by company insiders.

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.