Dynamic Technology Lab Private Ltd Takes Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Dynamic Technology Lab Private Ltd 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 SEC. The firm acquired 90,070 shares of the company's stock, valued at approximately $1,699,000. Dynamic Technology Lab Private Ltd owned approximately 0.06% of PENN Entertainment at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PENN. GAMMA Investing LLC raised its stake 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 valued at $28,000 after acquiring an additional 1,009 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in PENN Entertainment during the 3rd quarter worth $45,000. Quest Partners LLC purchased a new position in PENN Entertainment during the 3rd quarter worth $56,000. International Assets Investment Management LLC lifted its holdings in shares of PENN Entertainment by 1,634.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,244 shares of the company's stock worth $61,000 after buying an additional 3,057 shares during the period. Finally, J.Safra Asset Management Corp bought a new position in shares of PENN Entertainment during the 2nd quarter worth $83,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PENN. Stifel Nicolaus upped their price objective on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a "hold" rating in a research note on Friday, August 9th. Macquarie upped their price target on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Susquehanna cut their price objective on shares of PENN Entertainment from $26.00 to $25.00 and set a "positive" rating on the stock in a report on Monday, November 4th. Truist Financial lowered their target price on PENN Entertainment from $25.00 to $23.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Finally, JMP Securities reissued a "market perform" rating on shares of PENN Entertainment in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $23.29.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, Director Anuj Dhanda purchased 15,000 shares of the stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $18.40 per share, with a total value of $276,000.00. Following the completion of the acquisition, the director now owns 31,523 shares in the company, valued at $580,023.20. This trade represents a 90.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jay A. Snowden acquired 54,200 shares of PENN Entertainment stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $18.44 per share, with a total value of $999,448.00. Following the purchase, the chief executive officer now directly owns 853,045 shares in the company, valued at approximately $15,730,149.80. The trade was a 6.78 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 79,200 shares of company stock worth $1,450,548 over the last three months. 2.19% of the stock is currently owned by insiders.

PENN Entertainment Stock Performance

PENN Entertainment stock traded up $0.12 during mid-day trading on Tuesday, reaching $21.29. 1,707,985 shares of the company traded hands, compared to its average volume of 4,973,595. The firm's fifty day moving average is $19.52 and its two-hundred day moving average is $18.74. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -6.00 and a beta of 2.09. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.94 and a quick ratio of 0.94.

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

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.