PENN Entertainment, Inc. (NASDAQ:PENN) Shares Purchased by Pathstone Holdings LLC

Pathstone Holdings LLC lifted its position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 10.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 394,244 shares of the company's stock after acquiring an additional 36,347 shares during the period. Pathstone Holdings LLC owned 0.26% of PENN Entertainment worth $7,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in PENN Entertainment by 4,624.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,456,094 shares of the company's stock worth $28,183,000 after purchasing an additional 1,425,274 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in PENN Entertainment by 1,051.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,421,471 shares of the company's stock valued at $26,809,000 after buying an additional 1,297,976 shares in the last quarter. Armistice Capital LLC raised its holdings in shares of PENN Entertainment by 91.9% during the 2nd quarter. Armistice Capital LLC now owns 2,643,060 shares of the company's stock worth $51,156,000 after acquiring an additional 1,266,023 shares during the period. Invenomic Capital Management LP grew its holdings in shares of PENN Entertainment by 71.9% in the first quarter. Invenomic Capital Management LP now owns 1,884,284 shares of the company's stock valued at $34,313,000 after purchasing an additional 787,968 shares during the period. Finally, Long Focus Capital Management LLC acquired a new stake in PENN Entertainment during the second quarter worth about $11,613,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

PENN Entertainment Stock Up 1.5 %

Shares of PENN traded up $0.30 during mid-day trading on Friday, reaching $20.52. The company's stock had a trading volume of 1,920,516 shares, compared to its average volume of 4,996,901. The company's 50 day moving average is $19.45 and its 200 day moving average is $18.59. The stock has a market cap of $3.13 billion, a PE ratio of -5.71 and a beta of 2.09. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month 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 issued 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 net margin of 8.51% and a negative return on equity of 14.44%. The business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the prior year, the business posted $1.21 EPS. The company's revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts anticipate that PENN Entertainment, Inc. will post -1.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a "hold" rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their price objective on PENN Entertainment from $18.00 to $20.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. Benchmark reaffirmed a "hold" rating on shares of PENN Entertainment in a research report on Friday, November 8th. 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 note on Monday, November 4th. Finally, Barclays lowered their price target on PENN Entertainment from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, PENN Entertainment currently has an average rating of "Hold" and a consensus target price of $23.29.

Insider Transactions at PENN Entertainment

In related news, Director Anuj Dhanda bought 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, for a total transaction of $276,000.00. Following the purchase, the director now owns 31,523 shares of the company's stock, valued at $580,023.20. This trade represents a 90.78 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David A. Handler acquired 10,000 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was purchased at an average cost of $17.51 per share, for a total transaction of $175,100.00. Following the completion of the purchase, the director now directly owns 293,450 shares in the company, valued at $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 90 days, insiders have bought 79,200 shares of company stock worth $1,450,548. Corporate insiders own 2.19% of the company's stock.

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.