Capstone Investment Advisors LLC Acquires New Position in PENN Entertainment, Inc. (NASDAQ:PENN)

Capstone Investment Advisors LLC bought a new position in PENN Entertainment, Inc. (NASDAQ:PENN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,614 shares of the company’s stock, valued at approximately $219,000.

A number of other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of PENN Entertainment by 233.6% during the second quarter. GAMMA Investing LLC now owns 1,441 shares of the company’s stock worth $28,000 after acquiring an additional 1,009 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of PENN Entertainment during the 3rd quarter valued at about $45,000. Quest Partners LLC bought a new stake in shares of PENN Entertainment in the 3rd quarter valued at approximately $56,000. International Assets Investment Management LLC increased its holdings 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 buying an additional 3,057 shares during the last quarter. Finally, J.Safra Asset Management Corp bought a new position in PENN Entertainment during the second quarter valued at approximately $83,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

PENN Entertainment Stock Performance

NASDAQ:PENN opened at $21.59 on Friday. 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 firm’s 50-day moving average is $19.60 and its 200-day moving average is $18.82. PENN Entertainment, Inc. has a 52-week low of $13.50 and a 52-week high of $27.20.

PENN Entertainment (NASDAQ:PENN) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts forecast that PENN Entertainment, Inc. will post -1.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on PENN. Wells Fargo & Company boosted their target price on shares of PENN Entertainment from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Stifel Nicolaus increased their target price on shares of PENN Entertainment from $19.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Truist Financial reduced their price target on PENN Entertainment from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Craig Hallum reissued a “buy” rating and set a $30.00 price objective on shares of PENN Entertainment in a report on Tuesday, October 8th. Finally, Benchmark restated a “hold” rating on shares of PENN Entertainment in a report on Friday, November 8th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.29.

Insider Buying and Selling

In other PENN Entertainment news, Director David A. Handler bought 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of $17.51 per share, with a total value of $175,100.00. Following the completion of the purchase, the director now directly owns 293,450 shares in the company, valued at $5,138,309.50. The trade was a 3.53 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Anuj Dhanda acquired 15,000 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $18.40 per share, for a total transaction of $276,000.00. Following the completion of the purchase, the director now owns 31,523 shares in the company, valued at approximately $580,023.20. This trade represents a 90.78 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 79,200 shares of company stock valued at $1,450,548 over the last ninety days. 2.19% of the stock is owned by company insiders.

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.