Natixis Advisors LLC Buys 61,285 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Natixis Advisors LLC boosted its holdings in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) by 25.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,655 shares of the company's stock after purchasing an additional 61,285 shares during the period. Natixis Advisors LLC owned about 0.20% of PENN Entertainment worth $5,727,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Entropy Technologies LP bought a new position in shares of PENN Entertainment in the 3rd quarter valued at about $586,000. Versor Investments LP bought a new position in PENN Entertainment in the third quarter valued at approximately $571,000. Wolverine Asset Management LLC increased its position in shares of PENN Entertainment by 112.9% during the 3rd quarter. Wolverine Asset Management LLC now owns 57,745 shares of the company's stock worth $1,089,000 after purchasing an additional 30,617 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of PENN Entertainment during the 3rd quarter worth approximately $1,921,000. Finally, Graypoint LLC boosted its holdings in shares of PENN Entertainment by 8.9% in the 3rd quarter. Graypoint LLC now owns 20,382 shares of the company's stock valued at $384,000 after buying an additional 1,667 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

PENN Entertainment Stock Performance

NASDAQ PENN opened at $20.52 on Friday. The firm has a 50-day moving average price of $19.47 and a two-hundred day moving average price of $18.62. PENN Entertainment, Inc. has a 12-month low of $13.50 and a 12-month high of $27.20. The company has a market capitalization of $3.13 billion, a P/E ratio of -5.78 and a beta of 2.09. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34.

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. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. PENN Entertainment had a negative return on equity of 14.44% and a negative net margin of 8.51%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. Analysts anticipate that PENN Entertainment, Inc. will post -1.53 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jay A. Snowden purchased 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, for a total transaction of $999,448.00. Following the transaction, the chief executive officer now owns 853,045 shares of the company's stock, valued at approximately $15,730,149.80. The trade was a 6.78 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director David A. Handler acquired 10,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $5,138,309.50. The trade was a 3.53 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 79,200 shares of company stock worth $1,450,548. Company insiders own 2.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Benchmark restated a "hold" rating on shares of PENN Entertainment in a report on Friday, November 8th. Mizuho dropped their target price on shares of PENN Entertainment from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Tuesday, October 22nd. Bank of America initiated coverage on shares of PENN Entertainment in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $22.00 target price for the company. Morgan Stanley lowered their price target on PENN Entertainment from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $26.00 price objective on shares of PENN Entertainment in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target 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.