Quantbot Technologies LP Purchases 95,423 Shares of PENN Entertainment, Inc. (NASDAQ:PENN)

Quantbot Technologies LP raised its stake in PENN Entertainment, Inc. (NASDAQ:PENN) by 84.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 208,094 shares of the company’s stock after acquiring an additional 95,423 shares during the quarter. Quantbot Technologies LP’s holdings in PENN Entertainment were worth $3,925,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PENN. Vanguard Group Inc. lifted its position in PENN Entertainment by 0.4% during the first quarter. Vanguard Group Inc. now owns 14,789,817 shares of the company’s stock worth $269,323,000 after acquiring an additional 59,897 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in PENN Entertainment by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 88,958 shares of the company’s stock worth $1,620,000 after acquiring an additional 4,493 shares during the last quarter. Bayesian Capital Management LP lifted its position in PENN Entertainment by 87.1% during the first quarter. Bayesian Capital Management LP now owns 39,537 shares of the company’s stock worth $720,000 after acquiring an additional 18,400 shares during the last quarter. Virtu Financial LLC acquired a new stake in PENN Entertainment during the first quarter worth approximately $1,098,000. Finally, Sona Asset Management US LLC acquired a new stake in PENN Entertainment during the first quarter worth approximately $1,821,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PENN has been the subject of a number of analyst reports. Susquehanna dropped their price target on shares of PENN Entertainment from $26.00 to $25.00 and set a “positive” rating for the company in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of PENN Entertainment from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target on shares of PENN Entertainment in a research report on Friday, November 8th. Bank of America initiated coverage on shares of PENN Entertainment in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $22.00 price target for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of PENN Entertainment in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, PENN Entertainment has an average rating of “Hold” and an average price target of $23.29.

PENN Entertainment Trading Up 0.6 %

NASDAQ PENN opened at $21.29 on Wednesday. The firm’s fifty day moving average price is $19.52 and its two-hundred day moving average price is $18.74. PENN Entertainment, Inc. has a fifty-two week low of $13.50 and a fifty-two week high of $27.20. 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) last posted its 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. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. PENN Entertainment had a negative net margin of 8.51% and a negative return on equity of 14.44%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 earnings per share. As a group, sell-side analysts forecast that PENN Entertainment, Inc. will post -1.53 earnings per share for the current year.

Insider Transactions at PENN Entertainment

In other PENN Entertainment news, CEO Jay A. Snowden purchased 54,200 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $18.44 per share, for a total transaction of $999,448.00. Following the completion of the acquisition, the chief executive officer now owns 853,045 shares in the company, valued at approximately $15,730,149.80. This trade represents a 6.78 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Handler purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $17.51 per share, for a total transaction of $175,100.00. Following 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 position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 79,200 shares of company stock worth $1,450,548. Company insiders own 2.19% of the company’s stock.

PENN Entertainment 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.