Fountainhead AM LLC Sells 44,497 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Fountainhead AM LLC decreased its position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 30.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 100,000 shares of the company's stock after selling 44,497 shares during the period. Fountainhead AM LLC owned about 0.07% of PENN Entertainment worth $1,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in 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 purchasing an additional 1,009 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of PENN Entertainment in the third quarter worth $45,000. International Assets Investment Management LLC raised its holdings 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 acquiring an additional 3,057 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in PENN Entertainment during the second quarter valued at $83,000. Finally, Quarry LP grew its stake 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 in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Stock Performance

Shares of NASDAQ:PENN traded down $0.03 on Monday, hitting $20.46. 2,068,289 shares of the company were exchanged, compared to its average volume of 5,109,142. 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 company's 50 day moving average price is $19.02 and its two-hundred day moving average price is $18.35. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $27.20. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -5.76 and a beta of 2.09.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.04. The firm had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.65 billion. PENN Entertainment had a negative return on equity of 14.38% and a negative net margin of 8.51%. The company's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 EPS. Research analysts expect that PENN Entertainment, Inc. will post -1.41 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on PENN Entertainment from $19.00 to $20.00 and gave the company a "hold" rating in a report on Friday, August 9th. Macquarie lifted their target price on shares of PENN Entertainment from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Friday. Needham & Company LLC restated a "buy" rating and set a $26.00 price target on shares of PENN Entertainment in a research note on Friday. JMP Securities restated a "market perform" rating on shares of PENN Entertainment in a report on Friday, October 4th. Finally, 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 report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, PENN Entertainment has a consensus rating of "Hold" and an average target price of $22.96.

Insider Activity

In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the purchase, the chief executive officer now directly owns 853,045 shares in the company, valued at approximately $15,730,149.80. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jay A. Snowden purchased 54,200 shares of PENN Entertainment stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost 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 in the company, valued at approximately $15,730,149.80. This 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 the SEC website. Also, Director David A. Handler acquired 10,000 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $17.51 per share, with a total value of $175,100.00. Following the acquisition, the director now owns 293,450 shares of the company's stock, valued at approximately $5,138,309.50. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 79,200 shares of company stock worth $1,450,548. 2.19% of the stock is currently owned by corporate insiders.

PENN Entertainment Company 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.