31,092 Shares in PENN Entertainment, Inc. (NASDAQ:PENN) Acquired by Entropy Technologies LP

Entropy Technologies LP purchased a new position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 31,092 shares of the company's stock, valued at approximately $586,000.

Several other institutional investors and hedge funds have also bought and sold shares of PENN. GAMMA Investing LLC boosted its holdings in PENN Entertainment by 233.6% in the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock valued at $28,000 after purchasing an additional 1,009 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in PENN Entertainment in the third quarter valued at $45,000. International Assets Investment Management LLC boosted its holdings in PENN Entertainment by 1,634.8% in the third quarter. International Assets Investment Management LLC now owns 3,244 shares of the company's stock valued at $61,000 after purchasing an additional 3,057 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in PENN Entertainment in the second quarter valued at $83,000. Finally, Quarry LP boosted its holdings in PENN Entertainment by 76.7% in the second quarter. Quarry LP now owns 4,291 shares of the company's stock valued at $83,000 after purchasing an additional 1,862 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

PENN Entertainment Stock Performance

NASDAQ PENN traded down $0.16 during trading on Friday, reaching $20.78. The company's stock had a trading volume of 2,045,567 shares, compared to its average volume of 5,064,240. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -5.81 and a beta of 2.09. PENN Entertainment, Inc. has a twelve month low of $13.50 and a twelve month high of $27.20. The business's fifty day moving average price is $19.21 and its 200-day moving average price is $18.44.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business posted $1.21 earnings per share. The business's revenue was up 1.2% compared to the same quarter last year. As a group, analysts anticipate that PENN Entertainment, Inc. will post -1.53 EPS for the current fiscal year.

Analyst Ratings Changes

PENN has been the topic of several recent research reports. Bank of America initiated coverage on shares of PENN Entertainment in a report on Wednesday. They issued a "neutral" rating and a $22.00 price target on the stock. Truist Financial decreased their price objective on shares of PENN Entertainment from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. JMP Securities reiterated a "market perform" rating on shares of PENN Entertainment in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a "hold" rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus raised their price target on shares of PENN Entertainment from $19.00 to $20.00 and gave the company a "hold" rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, PENN Entertainment presently has a consensus rating of "Hold" and an average target price of $23.29.

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.