Systematic Financial Management LP Purchases New Stake in PENN Entertainment, Inc. (NASDAQ:PENN)

Systematic Financial Management LP acquired a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 38,485 shares of the company's stock, valued at approximately $726,000.

A number of other large investors also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its position in shares of PENN Entertainment by 4.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 17,410 shares of the company's stock worth $328,000 after purchasing an additional 665 shares during the last quarter. United Services Automobile Association grew its position in shares of PENN Entertainment by 6.3% during the 2nd quarter. United Services Automobile Association now owns 12,009 shares of the company's stock worth $232,000 after buying an additional 712 shares during the period. Aaron Wealth Advisors LLC increased its stake in shares of PENN Entertainment by 6.0% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 12,778 shares of the company's stock valued at $247,000 after acquiring an additional 720 shares during the last quarter. Arizona State Retirement System raised its position in shares of PENN Entertainment by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 38,403 shares of the company's stock valued at $743,000 after acquiring an additional 944 shares during the period. Finally, GAMMA Investing LLC boosted its stake in PENN Entertainment by 233.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock worth $28,000 after acquiring an additional 1,009 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other PENN Entertainment news, Director David A. Handler bought 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $17.51 per share, with a total value of $175,100.00. Following the completion of the acquisition, the director now owns 293,450 shares of the company's stock, valued at $5,138,309.50. This trade represents a 3.53 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 2.19% of the stock is currently owned by company insiders.

PENN Entertainment Stock Performance

Shares of PENN traded down $0.46 during midday trading on Friday, reaching $20.74. The stock had a trading volume of 2,386,723 shares, compared to its average volume of 2,414,964. The firm has a market cap of $3.17 billion, a PE ratio of -5.84 and a beta of 2.08. The firm has a 50 day simple moving average of $19.85 and a 200-day simple moving average of $19.01. PENN Entertainment, Inc. has a one year low of $13.50 and a one year high of $27.20. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 2.34.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the business earned $1.21 earnings per share. The business's revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PENN Entertainment, Inc. will post -1.53 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PENN shares. JMP Securities reaffirmed a "market perform" rating on shares of PENN Entertainment in a research note on Friday, October 4th. Stifel Nicolaus raised their price target on PENN Entertainment from $19.00 to $20.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on PENN Entertainment from $18.00 to $20.00 and gave the company a "hold" rating in a research report on Friday, August 9th. Morgan Stanley cut their price target on shares of PENN Entertainment from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 22nd. Finally, Barclays lowered their price objective on shares of 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 analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $23.29.

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.