Landscape Capital Management L.L.C. Purchases New Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Landscape Capital Management L.L.C. acquired a new stake in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 34,215 shares of the company's stock, valued at approximately $645,000.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its position in PENN Entertainment by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 14,789,817 shares of the company's stock worth $269,323,000 after purchasing an additional 59,897 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of PENN Entertainment by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 88,958 shares of the company's stock valued at $1,620,000 after purchasing an additional 4,493 shares during the period. Earnest Partners LLC lifted its position in shares of PENN Entertainment by 4.0% in the first quarter. Earnest Partners LLC now owns 3,938,133 shares of the company's stock worth $71,713,000 after purchasing an additional 151,025 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of PENN Entertainment during the first quarter worth approximately $228,000. Finally, Bayesian Capital Management LP grew its position in PENN Entertainment by 87.1% during the first quarter. Bayesian Capital Management LP now owns 39,537 shares of the company's stock valued at $720,000 after purchasing an additional 18,400 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PENN Entertainment

In related news, Director David A. Handler bought 10,000 shares of PENN Entertainment stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the acquisition, the director now owns 293,450 shares in the company, valued at approximately $5,138,309.50. This represents a 3.53 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay A. Snowden purchased 54,200 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $18.44 per share, with a total value of $999,448.00. Following the acquisition, the chief executive officer now directly owns 853,045 shares in the company, valued at $15,730,149.80. This trade represents a 6.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 79,200 shares of company stock valued at $1,450,548. 2.19% of the stock is currently owned by corporate insiders.

PENN Entertainment Stock Performance

PENN stock traded up $0.30 during midday trading on Friday, hitting $20.52. The stock had a trading volume of 1,920,649 shares, compared to its average volume of 2,741,248. PENN Entertainment, Inc. has a 52 week low of $13.50 and a 52 week high of $27.20. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a 50-day simple moving average of $19.47 and a 200 day simple moving average of $18.64. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -5.78 and a beta of 2.09.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.04. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $1.21 EPS. As a group, equities research analysts anticipate that PENN Entertainment, Inc. will post -1.53 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on PENN. Stifel Nicolaus increased their price objective on PENN Entertainment from $19.00 to $20.00 and gave the stock a "hold" rating in a report on Friday, August 9th. Macquarie lifted their price objective on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Benchmark reissued a "hold" rating on shares of PENN Entertainment in a research report on Friday, November 8th. Mizuho reduced their price target on PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating for the company in a research report on Tuesday, October 22nd. Finally, JMP Securities reissued a "market perform" rating on shares of PENN Entertainment in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $23.29.

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.