Insider Buying: PENN Entertainment, Inc. (NASDAQ:PENN) CFO Buys 16,157 Shares of Stock

PENN Entertainment, Inc. (NASDAQ:PENN) CFO Felicia Hendrix purchased 16,157 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were bought at an average price of $15.47 per share, with a total value of $249,948.79. Following the purchase, the chief financial officer now directly owns 68,596 shares of the company’s stock, valued at $1,061,180.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

PENN Entertainment Trading Down 1.6 %

NASDAQ PENN opened at $15.66 on Thursday. The company has a market cap of $2.39 billion, a P/E ratio of -2.10 and a beta of 2.06. PENN Entertainment, Inc. has a 12 month low of $13.50 and a 12 month high of $29.38. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50-day moving average of $17.33 and a 200-day moving average of $21.06.

PENN Entertainment (NASDAQ:PENN) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($0.57) by ($1.18). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.54 billion. PENN Entertainment had a negative return on equity of 3.53% and a negative net margin of 17.77%. As a group, equities analysts predict that PENN Entertainment, Inc. will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC acquired a new stake in shares of PENN Entertainment in the fourth quarter worth $32,000. Huntington National Bank grew its holdings in PENN Entertainment by 324.8% during the 3rd quarter. Huntington National Bank now owns 1,402 shares of the company’s stock valued at $32,000 after purchasing an additional 1,072 shares in the last quarter. Lindbrook Capital LLC increased its stake in PENN Entertainment by 57.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,521 shares of the company’s stock worth $40,000 after buying an additional 553 shares during the period. Neo Ivy Capital Management purchased a new position in PENN Entertainment in the 4th quarter valued at about $40,000. Finally, Signaturefd LLC grew its stake in shares of PENN Entertainment by 60.8% during the third quarter. Signaturefd LLC now owns 1,922 shares of the company’s stock valued at $44,000 after acquiring an additional 727 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PENN shares. Macquarie lowered their price target on shares of PENN Entertainment from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Wells Fargo & Company reduced their price objective on PENN Entertainment from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, May 3rd. JMP Securities restated a “market perform” rating on shares of PENN Entertainment in a research report on Tuesday, April 23rd. Craig Hallum cut their target price on shares of PENN Entertainment from $25.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Finally, Barclays lowered their price target on shares of PENN Entertainment from $26.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.92.

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.