Versor Investments LP Makes New $571,000 Investment in PENN Entertainment, Inc. (NASDAQ:PENN)

Versor Investments LP purchased a new position in shares of PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 30,300 shares of the company's stock, valued at approximately $571,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in PENN Entertainment by 233.6% in the 2nd 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 shares of PENN Entertainment during the 3rd quarter valued at approximately $45,000. International Assets Investment Management LLC grew its position 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 worth $61,000 after acquiring an additional 3,057 shares during the period. J.Safra Asset Management Corp acquired a new stake in PENN Entertainment during the second quarter worth $83,000. Finally, Quarry LP increased its stake in PENN Entertainment by 76.7% during the second quarter. Quarry LP now owns 4,291 shares of the company's stock worth $83,000 after acquiring an additional 1,862 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Insiders Place Their Bets

In other PENN Entertainment news, CEO Jay A. Snowden acquired 54,200 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $18.44 per share, with a total value 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. This trade represents a 6.78 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Anuj Dhanda bought 15,000 shares of PENN Entertainment stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $18.40 per share, with a total value of $276,000.00. Following the completion of the acquisition, the director now directly owns 31,523 shares of the company's stock, valued at approximately $580,023.20. The trade was a 90.78 % 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 valued at $1,450,548. 2.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PENN has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on PENN Entertainment from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Needham & Company LLC reiterated a "buy" rating and issued a $26.00 target price on shares of PENN Entertainment in a report on Friday, November 8th. Susquehanna decreased their price target on PENN Entertainment from $26.00 to $25.00 and set a "positive" rating on the stock in a research note on Monday, November 4th. Macquarie boosted their price target on shares of PENN Entertainment from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.29.

PENN Entertainment Stock Down 1.4 %

Shares of NASDAQ:PENN traded down $0.29 on Thursday, hitting $20.94. 1,832,031 shares of the company's stock were exchanged, compared to its average volume of 5,077,898. The firm's 50-day moving average is $19.17 and its 200 day moving average is $18.42. 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 company has a market capitalization of $3.20 billion, a PE ratio of -5.94 and a beta of 2.09. PENN Entertainment, Inc. has a 1-year low of $13.50 and a 1-year high of $27.20.

PENN Entertainment (NASDAQ:PENN - Get Free Report) last released its quarterly earnings data 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 net margin of 8.51% and a negative return on equity of 14.44%. The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter last year, the company earned $1.21 earnings per share. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts predict that PENN Entertainment, Inc. will post -1.5 EPS for the current year.

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.